Dow industrials close at their highest ever level

Market Watch.com ^ | Oct 3 2006 | Mark Cotton

[Grampa Dave]

Dow industrials close at their highest ever level By Mark Cotton Last Update: 4:06 PM ET Oct 3, 2006 NEW YORK (MarketWatch) -- U.S. stocks ended higher Tuesday, with the Dow Jones Industrial Average closing at its highest level ever, after the price of oil slumped to a 14-month low, raising hopes lower energy costs will boost consumer spending and moderate any slowdown in the economy. The Dow Jones Industrial Average ($INDUDow Jones Industrial Average News , chart, profile, more Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss Financials Sponsored by: $INDU ) rose 57 points to an unofficial close of 11,727, surpassing its previous all-time closing high of 11,722.98 struck on Jan. 14 2000.

The benchmark index rallied as much as 89 points to a session high of 11,758.95, topping its previous all-time high of 11,750.28 reached on Jan. 14, 2000.

[Grampa Dave]

So will the maggot infested mediots ignore this tonight or will they point out that the market failed to hold the intraday high?

[Grampa Dave]

I posted this so we could have a historical file of what happened today re the Dow's Closing.

[msnimje]

And they will say Foley sending perverted emails is of more consequence to Americans than this record high close.

[brownsfan]

Given past performance:
If they can't spin it, they ignore it.

[pissant]

Its Foley 24/7. You know that.

[Grampa Dave]

Typical rat behavior. They push and promote the dangerous homosexual lifestyle and protect their deviates who live that life style.

We fire them when their deviage behavior surfaces, and the rats try to make that into 24/7 news intil election day. This will have less traction than the N word flap.

[massgopguy]

None of the newsbreaks on WRKO since 3:30 have mentioned the DOW.

[Grampa Dave]

There might be a low whisper tonight. More than likely this breakthrough will be on the bottom of the screen in a trailier breaking the sound barrier streaking across the tv screens.

[marlon]

Well of course they'll ignore it how could they possibly fit it into the broadcast what with the Foley 24x7 newsfeeds. I wonder if Greta and Rita Crosby have been called back from Aruba so they can set up shop at the Page offices with live minute by minute updates for the next 3 months?

[Grampa Dave]

This Foley 24/7 will last about a week. When the rats's focus groups show them losing votes on this trumped up mess, it will be dropped like the N word mess a week ago.

[REPANDPROUDOFIT]

I heard it reported on ABC News/Radio. They reported that the Dow closed at its highest point ever-then followed immediately with, "despite the weakening economy". Ya gotta love em.

[defenderSD]

This is quite remarkable considering we are in October, which is usually weak up until around October 25. This tells me that the smart guys on Wall Street are expecting the GOP to hold the House for sure, if not the Senate. I don't know how long this oil price decline will continue, however, because at some point the weather will cool off and the big OPEC producers will decide to cut production to support the price. But I think the Saudis, the Kuwaitis, and the UAE would like to see the GOP do well in this election because they're very concerned about Iran (and they view the GOP as taking a tougher stance on Iran). So I don't expect any production cuts from those big producers until after the November election.

The MSM will probably give this event a quick mention tonight and then go back to talking about a "slowing eononomy." I'm not sure it's slowing all that much when you add everything up, and lower oil prices will give a big boost to the retail sector and somewhat less of a boost to housing.

[mmyers]

I posted this on a political Lib site and was rebuked with: Dow record has not been adjusted for inflation, it should be at 16,000 or more..

[Grampa Dave]

I know the NY Slimes stock closed at a loss today, how did the other dinosaur mediots fare?

[Echo Talon]

whooo hoo, party, party, party... :::hamster dance:::

[GOPJ]

Good news bump

[pissant]

Then back to the search for the missing gal in Aruba.

[Grampa Dave]

"This is quite remarkable considering we are in October, which is usually weak up until around October 25. This tells me that the smart guys on Wall Street are expecting the GOP to hold the House for sure, if not the Senate. I don't know how long this oil price decline will continue, however, because at some point the weather will cool off and the big OPEC producers will decide to cut production to support the price. But I think the Saudis, the Kuwaitis, and the UAE would like to see the GOP do well in this election because they're very concerned about Iran (and they view the GOP as taking a tougher stance on Iran). So I don't expect any production cuts from those big producers until after the November election."

It is even more significant when you look at the beatings the market took across the board in May through August.

The last 4 weeks have been awesome.

If Wall Street thinks that the rats are going to win, they develop defensive positions until after the election. There are no signs of a defensive position being taken by these investors.

[defenderSD]

Yeah I know, MSM people don't understand the stock market. Stock investors want a "Goldilocks economy" that is not so hot as to cause higher interest rates and not so cold to cause very slow economic growth or a recession. The economy was too strong in the 2nd quarter of 2006 and so current conditions, while slower economically, will not cause higher interest rates or a very slow economy and therefore the market is moving to an all time high.

[Grampa Dave]

There will be an very nice and well aged Local Merlot with our steaks tonight.