Posted on 12/17/2005 8:22:07 AM PST by new yorker 77
Investors will sort through data on housing, durable goods and inflation plus earnings from companies like FedEx Corp. (NYSE:FDX - news) and Morgan Stanley (NYSE:MWD - news) next week, but none are expected to pack enough punch to undo the year's gains and derail Dow's push toward 11,000.
And as usual, the market will keep a close watch on the price of crude oil, which closed solidly below $60 a barrel on Friday, easing concerns that high energy costs will pinch corporate and household budgets.
"I think between now and the end of the year, the market is going to have a mild upward bias," said Stanley Nabi, vice chairman at Silvercrest Asset Management Group. "There is nothing that will come out on the economic front next week that will redirect the market."
Factors that have pushed stocks up in recent weeks include data showing the economy is on solid footing as well as the Federal Reserve signaling that its interest-rate-raising cycle was nearing an end.
"I think the market will continue to rally as the economic data continues to improve," said Steve Neimeth, portfolio manager for AIG SunAmerica Asset Management.
"The Consumer Price Index came in 'in line' with expectations, which calmed investors," Neimeth added. "And the Fed commented that they're not particularly concerned about inflation and that they don't seem to be any more aggressive in raising rates."
So far this year, the Dow Jones industrial average (^DJI - news) is up 0.86 percent, the Standard and Poor's 500 index (^SPX - news) is up 4.57 percent, and the Nasdaq Composite Index (^IXIC - news) is up 3.54 percent.
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(Excerpt) Read more at news.yahoo.com ...
Correction: What "you view was" should read "what my view was".
The government's proper role in the economy should be...STAY OUT OF THE WAY. In case you haven't noticed, state-run economies HAVE failed, and will ALWAYS fail. I know, that runs counter your Lib philosophy, but it's a proven fact.
How is "but I am sure you support the troops" an irrelevant personal attack? I am simply illustrating the idiotic way the Libs are covering their rear-ends whenever they put the US down. Of course, I am sure you figured it out. As for your posting history, I am not interested in it at all. The fact is, your side's pathetic claim to get freedom of speech is laughable, especially considering how the Left always tries to restrict the Right's own freedom of speech.
True and good. But most people are tied to their jobs. Lose them and they loose everything. Very few are, or can be, or ever will be, true capitalists.
I'm not advocating the overthrow of the capitalist system. I recognize its strengths and the weaknesses of competing systems. But laissez faire had been criticized from the beginning by no less than Adam Smith. I stand with TR - regulation is necessary, limits must be set and observed. What kind? No ideology has yet been invented which can answer that question. It's all trial and error.
Globalization is threatening the the American working and middle-classes and environmental gains. I think liberals are right to criticize at least some of the Administrations responses to the threat.
Looks like you are taking a whoopin from our freeper "conservatives?" so I'll say I agree with you. The improving economy probably also explains he articles I have been seeing warning that we are about to have a crash, saying get out of mutual funds now, the housing bubble, etc. They may just be the gold hustlers or they may be libs trying to talk the economy down.
You are an economic ignoramus.
How is my position on the war and the troops relevant to this thread on domestic economics? But if you'd done your homework you would have discovered that I supported, and continue to support, the Administration foreign policy from the beginning, from 2001 or 2002.
In case you hadn't noticed there's a lot of space between laissez-faire and state-run economies...and it's in that space where ALL successful modern economies live.
So let's see...three posts and not a single substantive argument or comment. I would say that makes you a plain old garden-variety, unqualified ignoramus.
You just quoted the historically low unemployment figures. How do you reconcile the two? In my opinion, those whose jobs are outsourced lose little time in getting another.
Well, they're certainly making a lot of noise... :)
The improving economy probably also explains he articles I have been seeing warning that we are about to have a crash
This is just more noise by various species of hustlers, as you say. But some of the trends seem real. It's hard to ignore all that debt, record immigration - legal and illegal, rapid rises in energy prices, increasing religious turmoil and confrontation, signs of environomental stress.
If I listened to you, I would be very, very, very poor.
Globalization has not destroyed the American lifestyle.
More people are working than ever before, more people are investing than ever before, more people own homes than ever before.
I could go on and on with FACTS.
But you want to justify the rhetoric of hate-filled, anti-American liberals.
Fine, I'll agree with you.
The hate-filled, anti-American liberals are right. America sucks and our economy is in the toilet.
Now if you excuse me, I have to count my money. It could take all day.
DAMN YOU GLOBILAZTION!!
YOU WILL RUE THE DAY YOU BROUGHT SO MUCH PROSPERITY TO MILLIONS!
I can't. It's one of the subjects of contention. How accurate are those figures?
In my opinion, those whose jobs are outsourced lose little time in getting another.
At a substantially lower wage, in my experience.
....rapid rises in energy prices....
The strength of the capitalist system signaling scarcity. In response to scarcity additional supply is provided and prices ease.
increasing religious turmoil
? You mean political correctness dictating that nobody say Christmas?
signs of environomental stress
Things like the global warming measured on the planet Mars? If liberals could only explain how we are causing that.
Or how the Vikings were raising crops in Greenland in the Middle ages?
Globalization is unstoppable and, if it isn't interrupted by war or depression or environmental collapse, will be greatly beneficial to humanity. But the way it's approached, the laws - or lack of - which govern it are critical.
Millions more are not poor because they did not listen to people like you.
I am happy at good economic news because I know millions are gaining as a result.
You fret because of 'liberal complaint'.
Fretting at economic success is a hate-filled trait of leftists.
A hope and a prayer. Wars have been fought repeatedly because this mechanism often fails, because technological advancement cannot always come to the rescue.
increasing religious turmoil
I mean increasing religious turmoil. From the '40s through the '70s it was not a factor in American consciousness.
Things like the global warming measured on the planet Mars? If liberals could only explain how we are causing that. Or how the Vikings were raising crops in Greenland in the Middle ages?
Economies respond to ALL climate changes. What's new are GLOBAL changes CAUSED by human economic activity.
this mechanism often fails
A myth and an illusion.
http://www.ag.auburn.edu/agec//courses/aec512/Articles/Gloom.html
In 1865 an influential book by Stanley Jevons argued with equally good logic and equally flawed premises that Britain would run out of coal in a few short years? time. In 1914, the United States Bureau of Mines predicted that American oil reserves would last ten years. In 1939 and again in 1951, the Department of the Interior said American oil would last 13 years. Wrong, wrong, wrong and wrong.
....the Vikings were raising crops in Greenland in the Middle ages?
Economies respond to ALL climate changes. What's new are GLOBAL changes CAUSED by human economic activity.
Enlighten me. How did Midieval human economic activity begin the global warming that enabled crops to be grown in Greenland? (hint: did they have solar power back then?)
There's truth to what you say. Investment always involves risk. Those who don't risk don't gain...but, of course, you don't mention those who risk and lose.
I am happy at good economic news because I know millions are gaining as a result.
Me, too. I'm especially happy to hear of the success of young, inventive people like those who founded Google (no sarcasm). But none of that addresses the criticisms of the Left about the fates of those who are losing.
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