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.

[concerned about politics]

That's odd. The liberal press hasn't said a word about it.
All I'm hearing about is how everyone hates Bush - even plants, animals, germs, shovels, and candy bracelets.
Funny they'd miss exciting pro-Bush news like this, isn't it?

[MikeA]

So the value of the dollar is the only economic stat. you pay attention to? Yeah it sucks all those American exports that will be more price competitive now.

[cogitator]

As always, the Washington Post has to throw cold water on a hot economic stove:

The Top Takes Off

"Our chart shows the combined effect of the Bush tax cuts. It leaves no doubt that the tax system has become less progressive, even as the need for progressivity has grown. Over the past quarter of a century, the tide of the American economy has failed to lift the bottom half of society, damaging the faith on which capitalism depends. Seven out of ten say the nation is headed in the wrong direction even though economic growth is galloping, and many are hostile to trade, immigration and big business. But rather than crafting a tax policy that responds to those sentiments, the administration has done the opposite. ...... The chart makes a second point. 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."

[Denver Ditdat]

Good point! I'd wait for SP1 or 2 before migrating to Vista, though. There aren't many apps that are going to require Vista at launch date. Heck, loads of stuff still does fine chugging along on Win 98SE.

[trubluolyguy]

Woo, and a hearty Hoo.

[Amelia]

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

[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.

Great observation. You can bet it won't be the ONLY misdirection in the near future, especially if the Dow cracks the record tomorrow or in the next few days.

[Cyber Liberty]

I remember having to FReep by candlelight because there wasn't any electricity.

[Attention Surplus Disorder]

If that's your interpretation of my post, great. Cheers.

[Stajack]

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.

Insane, isn't it?

[Cyber Liberty]

If the Canon's a FTB, I'll buy it from you. Serious.

[Grampa Dave]

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

Time to fire those fund managers and buy some winning funds.

[Zeppelin]

*****Right, so that's about 50x the computer at 1/2 the price. That means computer prices are down more than 95%. The same is true for other electronics. And they use less power and less resources to make.*****

Right. But what you failed to mention was how stagnant technology has been since Bush took office.

[Stajack]

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

Don't be surprised if it DOESN'T get reported. As the Dow has reach new historical milestones in the past few weeks, often the only thing reported is how much the Dow rose that day. PERIOD.

[Cyber Liberty]

But what you failed to mention was how stagnant technology has been since Bush took office.

That's BS. Maybe technology stocks, but if you don't think technology is advancing, you're asleep at the switch.

Maybe I'm just a shill, though: I work in R & D department of a semiconductor company, so I'm on the front line, like back in Y2K.

[American Quilter]

I intend to jump head first from the New York Life Building in the morning. Anyone is welcome to join me 7:00am

LOL!

[Attention Surplus Disorder]

Gold: The new meaning for "The 700 Club".

[Stajack]

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

Wish I knew. Maybe you should consider getting a financial advisor, or firing the one you have now.

[American Quilter]

I remember having to FReep by candlelight because there wasn't any electricity.

Excellent!

[Cyber Liberty]

You know I can only get away with jokes like that because of my FR registration date....