Posted on 11/29/2005 11:53:17 AM PST by rightinthemiddle
NEW YORK, Nov 29 (Reuters) - U.S. stocks gained on Tuesday after stronger-than-expected consumer confidence data lifted hopes about holiday spending, while a rise in orders for the largest manufactured goods boosted industrial stocks, including aircraft maker Boeing Inc. (BA.N: Quote, Profile, Research)
Also, the Standard & Poor's index of steel makers was up 4.6 percent, and shares in U.S. Steel Corp. (X.N: Quote, Profile, Research) rose 7.9 percent to $45.83 on the New York Stock Exchange after J.P. Morgan placed the steel maker's stock on its focus list, saying it was undervalued. [ID:nN29193412]
Boeing shares gained 1.4 percent to $69.62, while those of diversified manufacturer United Technologies Corp. (UTX.N: Quote, Profile, Research) were up 0.7 percent at $54.43 after hitting an all-time high of $54.88.
A third economic report showed sales of new U.S. homes rose unexpectedly in October. Shares of home improvement retailer Home Depot Inc. (HD.N: Quote, Profile, Research) were up 0.6 percent at $41.81 on the NYSE.
The Dow Jones industrial average was up 31.06 points, or 0.29 percent, at 10,921.78. The Standard & Poor's 500 Index was up 3.78 points, or 0.30 percent, at 1,261.24. The technology-laced Nasdaq Composite Index was up 1.99 points, or 0.09 percent, at 2,241.36.
The Dow average earlier hit a nine-month high.
(Excerpt) Read more at yahoo.reuters.com ...
Was the editor out of the room when this headline went out from Reuters? If so, he/she and the writer has some explaining to do. It might make Bush look good.
I'm sure it will be revised soon. Thought we might enjoy it while it lasts.
The Liberals said something nice about the economy...wasn't there a "BUT...there are still poor folk in New Orleans..."
portrays?, How MSM of Rueters
How about INDICATES, SHOWS, FURTHER EVIDENCE OF...
portrays? what a buncha crap.
Consumer Confidence Numbers Soar in Nov.
Tuesday November 29, 2:40 pm ET
From AP just Now:
By Martin Crutsinger, AP Economics Writer
Trio of Good Economic Reports Provides Signs of Improving Economy Just As Shopping Season Starts
WASHINGTON (AP) -- The outlook for the holiday shopping season brightened today with news that consumer confidence soared in November in response to a drop in gasoline prices and a pickup in the job market. Separate reports of record home sales and a jump in durable goods orders provide more signs of an improving economy.
(snip)
The worst economy since Hoover!!
The worst economy since Hoover!!
The worst economy since Hoover!!
Wasn't that the crap spewed out by the DNC?
The editor must have taken a 2-week Thanksgiving off...
Go Go Retirement!!!!!!
Whoa Whoa Social Security!
So they're noticing it too. The ones that I see undervalued are GGB, SCHN, NUE, and OS. For the life of me, I can't see why that particular sector should be showing so much strength other than the fact that we haven't heard from them for a while.
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