Posted on 10/12/2006 1:50:34 PM PDT by Grampa Dave
Thursday October 12, 4:40 pm ET
By , AP Business Writer Dow Ends Up 96 to Close at Record High of 11,948 on Earnings Optimism; Nasdaq Gains 38
NEW YORK (AP) -- The Dow Jones industrial average broke through 11,900 to close at a record high Thursday, boosted by optimism over the health of corporate earnings. According to preliminary calculations, the Dow Jones industrial average rose 95.57, or 0.81 percent, to 11,947.70. The previous record close from Tuesday was 11,867.17.
The index's gain marked its fifth record close in two weeks. The intraday high set Thursday was 11,959.63, eclipsing an earlier record of 11,872.94 set Monday.
The markets were more upbeat than on Wednesday, which saw a lackluster start to earnings season. On Thursday, investors shrugged off some economic data that could stir concerns about the health of the economy and instead focused on positive news from McDonald's Corp. and on oil prices, which remain near lows for the year.
"In general, we're getting friendly reports between oil inventories being up higher than expected and then some bellwether companies that are exceeding estimates," said John C. Forelli, portfolio manager for Independence Investment LLC in Boston.
Broader stock indicators also moved higher. The Standard & Poor's 500 index was up 12.88, or 0.95 percent, at 1,362.83, and the Nasdaq composite index showed the day's biggest gain, advancing 37.91, or 1.64 percent, to 2,346.18.
IBRYMB
MSM: "Minorities, women and children not in the market hardest hit..."
Great news!
IARYMB
IBTRYMBP!
DAMN REPUBLICANS!!!!!!!!!!
&^*&%U*T!!!
MSM: "Illegal aliens, Islamic terrorists, rats in congress, unemployed newspaper people, minorities, women and children not in the market hardest hit..."
ABCNNBCBS will interview homeless people across the nation this evening for their outlook on how the rich get richer and they get poorer.
Yeah, that'll be the MSM talking point. All those poor Americans making a minimum wage that hasn't been raised in years denied the opportunity to invest in the good economy because the eeeevil Republicans won't raise the minimum wage even $1.
I predict this from Pelosi.
The day after the plane crash in New York??? Clearly this has Rove's fingerprints all over it.
It's Bush's fault!
Love it!
Happy Fitzgiving and a Merry Fitzmas to all the rats across the country who have invested in whatever rats invest in.
"The day after the plane crash in New York??? Clearly this has Rove's fingerprints all over it."
Absolutely, Dan. This has Rove's fingerprints all over it.
This is good news, but is tempered by the knowledge that Grace Slick will be 67 very soon.
Great news Grampa Dave. Thanks for posting!
Yes, it is Bush's fault!
I will be 68 soon, and it beats the hell out of the alternative. So Grace has nothing to complain about.
This has to be like getting sacked by a Pro Football's defensive line and line backers for Pelosi and Reid.
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