Posted on 04/25/2007 1:40:00 PM PDT by spikeytx86
NEW YORK - It looks like a cause for celebration: The Dow Jones industrial average surged from 12,000 to 13,000 in just six months. But appearances can be deceiving, and there may be more reason to worry rather than rejoice about Wall Street's latest accomplishment.
Stronger-than-expected profits from several large companies helped push the stock market to historic heights. But many big corporations, including the Dow components, made a chunk of that money overseas, where economies are growing faster than in the U.S. And many of the same worries that weighed on investors earlier in the year remain: rising energy costs, a slumping housing market and a possible credit crunch.
Still, the stock market's best-known indicator surged past its latest milestone shortly after trading began Wednesday, and even made it past 13,100, rising as high as 13,107.45. According to preliminary calculations, it closed at 13,089.89, up 135.95 or 1.05 percent.
(Excerpt) Read more at news.yahoo.com ...
I guess we're doomed.......and it must be Bush's fault.....
:-)
I hope everyone remembers the doomsday chatter just a month ago from the MSM when the market fell 3.5% in a day.
I and a number of others on this forum strugged and invested heavily at that time.
While we aren’t getting rich, it certainly shows the herd mentality of the MSM and the market overall can be beaten by those who pay attention.
Bush’s fault.. Worst. Economy. Ever.
It’s Bush’s fault...err, wait.
“DOW closes over 13,000...women, children, minorities hardest hit.”
Color me unimpressed. Dow 13,000 in 2007 equals Dow 11,000 in 2000. If we pass 14,000 or 14,500 I will be somewhat impressed.
Goebbels lives on in the AP...
“Goebbels lives on in the AP...”
Seems he is on FR at times too!!! Referencing the doom and gloomers.
LLS
There was a great bull market in the 1920s just before the Great Depression. If the Dow goes up, it must mean economic collapse is just around the corner. (On the other hand, if it goes down, we’re doomed in that case too.)
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