Are Democrats hoping for America to lose in Iraq? Michael Kinsley seems to think so. "The slow souring of the American adventure in Iraq is a promising and legitimate issue for the Democrats," he writes. "And they will benefit from it no matter what they say."
If it's so pain making then why doesn't that sewer dweller simply unload all it's investments?
One of the hallmarks of mental illness is demanding thinking. They just can't accept that Life is what it is, and they can't provide "proof" that it "should" be any different.
Today, the Dow again closed over 10,000. The Dow and most of the major indexes were up again.
This should drive them even deeper into their lunatic depression.
http://www.freerepublic.com/focus/f-news/1039352/posts Bulls Carry The Day
Quicken.com Investments News ^ | 12 December 2003 | Bulls carry the day
Posted on 12/12/2003 1:34:33 PM PST by Grampa Dave
NEW YORK [CBS.MW] - The major equity indexes rose Friday, rallying despite conflicting signals about the health of the economy.
The Dow Jones Industrial Average (DJI, news) gained 34 points, or 0.3 percent, to close at 10,042.16, while the Nasdaq Composite (COMPX, news) added almost 7 points, or 0.3 percent, to finish at 1,949.
The S&P 500 index (INX, news) edged 0.3 percent higher to 1,074.14, while the Russell 2000 index (IUX, news) of small-cap stocks added 0.9 percent at 547.59.
"The path of least resistance seems to run to the upside in this market," said Art Hogan, chief markets analyst with Jefferies & Co.
It was a seesaw session as early gains following news of an unexpected decline in producer prices evaporated upon release of a disappointing measure of consumer confidence.
Instead of the improvement to 95.6 that economists were forecasting, the University of Michigan's sentiment index saw a decline to 89.6 in December from 93.7 in November.
A widening U.S. trade gap was also a source of concern but the Dow, buoyed by gains in market standouts United Technologies and GM, pushed to new highs.
It should be noted, however, that the blue chip barometer traded in a tight range of about 76 points, and that volume was relatively light.
The action follows a strong rally Thursday that lifted the Dow to its first close above 10,000 since late May of 2002. That buying was, at least in part, fueled by the afternoon release of the minutes of the October meeting of the Federal Reserve's open market committee revealed the central bankers expect inflation to remain tame for the foreseeable future.
Breadth within the Dow Friday was positive with 19 of the 30 components moving higher.
United Technologies was the top advancer, gaining 2.6 percent after the company affirmed its earnings expectations. The stock was among four in the Dow hitting 52-week highs in midday action. The other three were Coca-Cola, Honeywell, GM and Walt Disney.
Coke held a meeting with analysts, and, before the bell, it said it plans to buy back at least $2 billion in stock in 2004.
Also, GM told investors that it's adding $4.1 billion in cash to its U.S. pension funding, bringing its total contribution for 2003 to $18.5 billion, or "nearly fully funded." The world's largest automaker thinks it won't have to make any more cash contributions until 2010. See full story.
The biggest decliner was AT&T, which lost 3.3 percent. SBC Communications fell 1 percent despite upping its dividend. Boeing, GE, which also boosted its payout to shareholders, J&J and Wal-Mart were also notably weak.
The selling in AT&T came after the telecommunications giant said late Thursday that it would cut more jobs than expected in 2003. Also, Smith Barney cuts earnings expectations for AT&T, saying revenue trends are weakening at an accelerated pace.
The firm, which reiterated its "sell" rating and a price target of $18 on the stock, believes greater competition will put pressure on AT&T's business services margins.
Volume totaled 1.21 billion on the New York Stock Exchange, and 1.45 billion on the Nasdaq. Breadth was positive in the broad market with advancers outpacing decliners, 21 to 12 on the Big Board, and 19 to 12 on the Nasdaq.
Bonds gain; gold benefits as dollar weakens
Treasury prices gained ground, pushing benchmark yields to three-week lows, following the economic data. See full story.
The U.S. dollar saw mild losses versus its rivals as traders focused on the widening trade gap, and continued uncertainty about the timing of any eventual rate hike from the Fed. See full story.
A spike in heating fuel prices lifted crude futures above $33 per barrel for the first time in a month. January crude climbed to a high of $33.20, a level the futures market hasn't seen since mid-November. See full story.
February gold closed at $410.10 an ounce, up $4.70 for the day and $2.80 for the week. Other metals futures, including silver, copper, platinum and palladium closed with gains of 1 percent or more. Concerns over the potential for higher metals prices kept investors interested in the sector ahead of the weekend. See full story.
Consumer sentiment; wholesale prices; trade deficit
The swing in the consumer sentiment was "decidedly at odds with actual economic conditions," according to Avery Shenfeld, senior economist with CIBC World Markets.
He pointed out that the U of Michigan index is based on a small sample, and said the firm views the measure as "fairly suspect in general."
"Markets will take this as a hint of disappointment for holiday period retail sales," said Shenfeld. "Negative for retail equities, positive for fixed income.
Check out the Economic Report for further information on the sentiment index.
U.S. wholesale prices fell 0.3 percent in November, the first decline since May, the Labor Department reported Friday. The core producer price index for finished goods, which excludes volatile food and energy prices, fell 0.1 percent, the first decline since June.
Economists were looking for a gain of 0.1 percent in the November PPI, according to a survey conducted by CBS MarketWatch. The core rate was expected to be unchanged. See full story.
The U.S. trade deficit widened by 1.0 percent in October to $41.8 billion, the Commerce Department said. The trade deficit was slightly above the consensus forecast of Wall St. economists, who had forecast a deficit of $41.6 billion.
Imports rose 2.1 percent to a record $129.7 billion, exports rose 2.6 percent to $88.0 billion. The trade deficit is on track to set a new record this year. See full story.
Also, funds investing primarily in U.S. stocks took in $4.3 billion in new money during the week ending Dec. 10, according to Trim Tabs, up from $1.6 billion the week before, and the Treasury Department said the U.S. federal budget deficit narrowed to $43.0 billion in November from $58.9 billion a year ago.
Story stocks: Boeing, Coca-Cola, United Tech
Boeing (BA, news) shares took a slight hit following a report that federal prosecutors have launched a new probe into dealings between the company's former chief financial officer, Michael Sears, and ex-Pentagon official Darleen Druyun. The Wall Street Journal said the prosecutors plan to look into whether the two tried to obstruct a Pentagon inquiry into their ties earlier in the year.
For a look at Boeing's prospects, check out this Due Diligence.
Coca-Cola (KO, news) said it expects its cash from operations to "remain strong" in 2004, a trend it believes will allow it to accelerate its share repurchase activity to at least $2 billion. The Atlanta-based soft drink giant and Dow component is holding a meeting with investors and analysts Friday.
At the meeting, the company plans to outline strategic plans and financial fundamentals "that support the company's long-term earnings per share growth objective of 11-to-12 percent and the reasons why the company is poised for a strong year in 2004" but Coke also reiterated its policy of withholding quarterly or annual EPS guidance. The stock rose 2 percent. See full story.
United Technologies (UTX, news) rallied to an all-time high of $92.14 in intraday trading after the company backed its forecast for earnings of $4.65 a share for fiscal 2003 and said it sees 2004 earnings coming in between $5 and $5.30 a share. This is in line with the range of current analyst expectations, according to Thomson First Call.
In addition, Prudential raised its rating on shares of the jet engine and elevator maker to "overweight" from "neutral weight," citing the company's faster-than-expected shift from restructuring to a global growth company. He also raised his six to 12-month price target on the stock to $110 from $100.
In other news for Dow components, GE raised its quarterly dividend by a penny per share, or roughly 5 percent, to 20 cents per share, and SBC Communications lifted its payout to 31.25 cents per share per quarter, or 10.3 percent, and said its board has approved the buyback of 350 million common shares, or 10 percent of its outstanding stock. Both stocks slipped 1 percent.
Mykrolis's (MYK, news) stock was the biggest percentage gainer on the NYSE, rising more than 12 percent, after the semiconductor equipment maker raised its fourth quarter earnings and revenue outlook, citing "strong" demand for consumables and equipment, particularly in Japan and Asia.
Check out other individual stocks making significant percentage increases or decreases in price in Movers and Shakers
After reading the lamentations of the DUmmy, I've got to wonder, why would anyone want to be a Dem? People have more money! They're doing well financially! Oh, the horror!
If you really want to see the level of hatred that erupts from those crazies, look at the thread on Robert Bartley. These "things" are not in the same phylum as humans.
""I've talked with a friend of mine who was in Paris the other day who was meeting with President Chirac at length, exploring some ideas, and the clear conclusion was that there is a place where the president is prepared to be involved and even perhaps put troops on the ground," Kerry said.
Pressed, Kerry refused to identify the friend who spoke with Chirac, or offer further details. "I don't want to drag the president of France into this presidential race."
Translation: Kerry has been speaking to Chirac about his policy towards the US, colluding on how to screw Bush. Nice.
"Translation: Kerry has been speaking to Chirac about his policy towards the US, colluding on how to screw Bush. Nice."
Kerry is doing things like the Clintoon did before and right after the war with Iraq.
We used to call these people traitors. Now we call them, DemonicRat candidates for President.
What per year did Herr Krugman get from Enron as an advisor for doing nothing?
Ron Gunzberger, quoted in the article, is a Broward County queer, whose mommy, county commissioner Suzanne Gunzberger, led the 2000 recount in Broward. The bitch was making up Gwhore votes out of thin air. Little Ronnie was defeated (suprisingly!) in his run for a judgeship.
Another hallmark for mental illness/insanity is continuing to do the same thing over and over but expecting different results each time you do it. (you can take this to whatever meta-level you want)
Cheers