Posted on 10/23/2006 12:59:18 PM PDT by Species8472
NEW YORK
Wall Street extended its October rally Monday as investors grew more optimistic about upcoming earnings reports, and a decline in oil bolstered hope for higher consumer spending. The Dow Jones industrials crossed 12,100 for the first time. Dow component Wal-Mart Stores Inc., which said it will cut capital spending to improve its profits, helped the blue chips to their new trading high.
Strength from International Business Machines Corp., Hasbro Inc., and Xerox Corp. also fed the advance. Just halfway through third-quarter earnings season, generally upbeat reports have instilled new confidence about the future in investors.
"The picture being painted is pretty easy to suggest that the pressure on the economy from higher oil prices is easing," said Richard E. Cripps, chief market strategist at Stifel Nicolaus. The price of oil, which fell to lows for the year Friday from its mid-July highs, is making investors more bullish on sectors like retail, which will benefit if consumers have more spending money.
Blue chips resumed a three-month rally after stalling Friday; the Dow, which had already risen 233 points in October before Monday's trading, surpassed 12,100 and reached a new trading high of 12,125.16, eclipsing the old mark of 12,049.51 set last week. Broader market indexes also gained as investors shrugged off concerns about the Federal Reserve's decision on interest rates later this week.
(Excerpt) Read more at breitbart.com ...
Looks like we know where all the real estate dollars will be going...
Daschle was on CSPAN this morning.,....still looked saddened...to me!
I wonder if they think their formula is STILL good? If they do... They must be secretly sweating it out right about NOW!
;)
I think that it was Gephardt, the guy with an iq lower than room temp who used to say that as he spoke------- so------slowly-------so------the-------dumb-------rats------- could=======understand-----his-----lies.
Stand by for the new low after Dems take over... Oh don't worry those rich guys will be buying all the stuff for the soup lines....
Man... You can't tell me they're smiling in private, especially with these low gas prices to boot! They GOT to be sweatin' bullets!
Up,Up and away!
"During Nov 2004 the DOW was around 10,400. So that puts them 1,700 points in the HOLE right now!
Man... You can't tell me they're smiling in private, especially with these low gas prices to boot! They GOT to be sweatin' bullets!"
The higher Dow, lower gas prices, lower unemployement rates and higher consumer confidence was present at the 2 shopping centers my bride and I went in Friday and the 3 on Sunday.
The parking lots were full and people were buying. She got tired of waiting for a baby shower computer want list at Target Friday and returned yesterday. All of the gifts on the want list were filled. So she stood in line for ten minutes to buy a Target gift card.
Most stores in this area sold out of their Halloween and Thanksgiving home decorations stuff by the end of September.
Cool picture.
"MARK FOLEY REAPS OBSCENE PROFITS FROM DOW"
Fear for the children. Imagine how many will be injured by the cash heavy drawers falling on them as they try to remove a few pennies. Oh, the tragedy of it all!! It wouldn't have happened but for that eeevil Bush.
,..or "market soars, poverty still with us..." Ya gotta love the MSM - they never give unqualified good news when Republicans are in charge...
Oh no, see the local liberals are claiming the Market is up because the Dems are getting ready to oust the Repubs and impeach Bush.
I kid you not.
"Market Fails to top 13,000 Yet again. More at 11"
Great line. Lou Dobbs will be using it on his show. Not news show, just show. And, doncha feel sorry for the middle class that is starving to death and have no medical insurance and work for minimum wages because they can't find a good job?
And now back to Wolf and more tape of Americans dying in Iraq, almost as badly as our ratings.
LMAO
Worst damned economy in 40 years, why as much as 4% of the work force is unemployed too.
Democrats are on suicide watch now
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