Dow closes in on (another) new record (Move along nothing to see here)

CNN Money ^ | 7/16/07 | Mikey_1962

[Mikey_1962]

Blue chip average closes in on another record high, but broader market struggles ahead of a slew of earnings news, inflation reports. By Jessica Dickler, CNNMoney.com staff writer July 16 2007: 2:59 PM EDT

NEW YORK (CNNMoney.com) -- The Dow Jones industrial average looked poised to finish in record territory for the third straight session Monday, as the broader market struggled ahead of the week's earnings figures and inflation reports.

The Dow (up 36.58 to 13,943.83, Charts) added 0.3 percent after ending the previous session above 13,900 for the first time ever. Earlier in the session the blue-chip index came within 20 points of 14,000. Of the 30 stocks in the Dow, 17 rose and 13 fell.

The tech heavy Nasdaq composite index (down 6.90 to 2,700.10, Charts) lost 0.3 percent and the broader Standard & Poor's 500 index (down 1.48 to 1,551.02, Charts) fell 0.2 percent with an hour left in the session.

Earlier in the session all three major gauges climbed higher, as traders focused on talk of a possible deal with Verizon. But nervousness set in by afternoon trading ahead of a string of corporate earnings reports, inflation numbers and testimony from Federal Reserve Chairman Ben Bernanke, according to Hugh Johnson, chairman of asset management company Johnson Illington Advisors.

On top of which, "the price of oil adds a little bit of spice," he added.

"There's a real chance there will be some excitement this week," Johnson said.

[Mikey_1962]

Another DOW record ignored by the MSM

[AU72]

Another DOW record, women, minorities and undocumented americans left behind.

[brownsfan]

Hillary! will raise taxes, and crater the economy. The msm will blame GWB.

Count on it.

[kromike]

If Bore or Ferry had been elected, we would be celebrating crossing the 7,000 mark.

[Retired Greyhound]

worst economy, Herbert Hoover, recession, blah blah, yada

[Mikey_1962]

Just like the 70’s when Liberals Ruled!

DOW started the 70’s at 800 and left about the same.

[NeoCaveman]

according to Hugh Johnson, chairman of asset management company Johnson Illington Advisors.
On top of which, "the price of oil adds a little bit of spice," he added.
"There's a real chance there will be some excitement this week," Johnson said.

Well, that's good to know but how I can I take a guy named Hugh Johnson seriously?

[gunservative]

Another DOW record ignored by the MSM

Probably the MSM laid off their finance reporters years ago after everybody quit reading newspapers and watching the evening snooze.

[WhyisaTexasgirlinPA]

Near 14K - amazing and I’m being nice today so I’m not going to make any jokes about Mr. Johnson’s business partner, Hugh Jorgan. ;^)

[TexasCajun]

"We must not be taxing business enough if records are being broken! "

[NeoCaveman]

My eyes!!!!

Oh the huge manatee.

[hophead]

Hey, how about a warning when you post pictures like that!

[hubbubhubbub]

USDX down again today. Too bad the DOW is priced in dollars.

[gcruse]

Back when FNN was in business, they had this contest where high schoolers came up with pretend portfolios. The best performing portfolios were announced every week and the ‘portfolio managers’ were named during the broadcast.

I tumbled down laughing when the show’s host read the name of one ‘manager,’ Hugh Rection. Evidently the high school kid left out the middle initial (G) for fear of being too obvious.
It worked.

As far as I know me, Hugh, and his snickering friends are the only ones who know the secret.