Dow Close Second Highest Ever

Yahoo Finance , CNBC ^ | 5/9/06 | Yahoo Finance, CNBC

[Stajack]

The Dow was up 55.23 today, closing at 11,639.77. Today's close was the second highest ever for the Dow. The previous highest close was 11,582.43 on 1/13/2000. Today's close was also within 85 points of the all time Dow closing high, which was 11,722.98 on 1/14/2000. CNBC reports that the stock market got a late afternoon boost from the approval of tax cut extensions on Capitol Hill.

[Amelia]

I'm due for a rebalance, myself...but I hope they don't totally crash just before I trade them in.

[Tulsa Ramjet]

"That's almost as high as it was under Hoover, isn't it?"

oh hoover gets nailed all the time.

[sphinx]

This will bring tears to the MSM maggot mediots who have to report on this tonight and tomorrow.

Why do they have to report it? Somewhere in America, someone lost his job today. Somewhere a child skinned his knee. Somewhere the crabgrass is out of control. And it's all George Bush's fault.

[farmguy]

"In the long run we are all dead..."

That's the plan. (let the next generation take care of it - I just hope they can keep juggling until the next generation is ready)

[groanup]

So, how come most of my mutual funds are DOWN, then?

It is difficult to find a stock mutual fund that's down this year. You must own bond funds. Most of those are down.

[Doe Eyes]

Yup, those tax cuts are a disaster. Full employment, 4.8% economic growth, 5.2 million jobs created since 9-11, the Dow at its second highest ever close.

Now its time to tackle Federal Spending and get the Deficit under control.

[Stajack]

"The Dow was up 55.23 today, closing at 11,639.77. Today's close was the second highest ever for the Dow. The previous highest close was 11,582.43 on 1/13/2000. "

Something doesn't compute here.

I cited the historical high which today's close exceeded:

- 11,582.43 on Jan 13, 2000 (PREVIOUS 2d highest close)

AS WELL AS the all time highest close:

- 11,722.98 on Jan 14, 2000

Summary: Today's Close - Second Highest Ever

[Grampa Dave]

"Why do they have to report it? Somewhere in America, someone lost his job today. Somewhere a child skinned his knee. Somewhere the crabgrass is out of control. And it's all George Bush's fault."

You are right.

Time to trot out the poor homeless, some who have been homeless for decades. The little illegal alien child with a skinned knee, the crabgrass in my neighbor's yard because he is an enviro whacko, and it's all Bush's fault.

[Stajack]

I checked on CNN to see what they said about the market. Interestingly, where they used to put the closing numbers, they have added a place to insert a symbol and get a quote.

I watched NBC Nightly News to aee how they would handle this. Unless I missed it (and I don't think I did) THEY DIDN'T EVEN GIVE A STOCK MARKET UPDATE. Did any one else notice?

[norwaypinesavage]

"The loss of tax progressivity has not occurred in the middle of society; it's not as though someone a quarter of the way down the income scale is doing better at the expense of someone three-quarters of the way down. Rather, it's the top tenth who have benefited, and the top within the top has done fabulously well."

It's amazing how the WaPo has to twist and spin to obscure the fact that "a rising tide lifts all boats". It matters not, to them, that the bottom of the group gain in resources. It only matters to the WaPo how far the bottom is from the top. And their solution is to lower the top, not to raise the bottom.

[nopardons]

Rolling on the floor laughing my socks peeing in my pants.

[lonestar67]

The latest CBO report indicates the deficit is going down as the result of tax cuts.

[Doe Eyes]

The latest CBO report indicates the deficit is going down as the result of tax cuts.

So you're not too crazy about cutting spending?

[InvisibleChurch]

i think he was joking

[festus]

Dontcha love it when no one gets a joke ?

If its any consolation I enjoyed it.

[redhead]

"I regret so much that I didn't discover FR until last year. I missed so many great threads!"

Start right now, and read REALLY fast! Seriously, you are doing fine. Just stay with us.

[Amelia]

They only dropped today. They've mostly been up.

I was just surprised that they dropped when most of the market was up.

[spanalot]

Buy Low,.....

[lonestar67]

I think cutting spending is good. If cutting spending leads to democrats taking over the government then yes I am pragmatic.

America can outgrow its government. Earmarking reform would be a good step in my estimation toward gaining Congressional control on spending.

Spending is Congress' responsiblity-- not the president's.

[yellowhammer]

"oh hoover gets nailed all the time."

Hoover sucked