Posted on 07/19/2007 2:28:28 PM PDT by kristinn
Wall Street moved soundly higher Thursday, sending the Dow Jones industrials to their first close above 14,000 as investors kept jitters about the economy at bay and focused on a string of upbeat earnings reports.
The Standard & Poor's 500 index also had a record close.
Profit news from companies like International Business Machines Corp., network equipment maker Juniper Networks Inc., and business software company SAP AG help lift stocks and boosted investors' appetite for technology issues.
Resurgent concerns about the health of subprime loans, which are made to borrowers with poor credit history, hurt financial stocks, while a report that a would-be suitor for Alcoa Inc. had lost interest kept the Dow Jones industrial average from extending its gains.
SNIP
According to preliminary calculations, the Dow rose 82.19, or 0.59 percent, to 14,000.41. The blue chip index throughout the session danced around the 14,000 mark, having first reached it on Tuesday but not closing above that level until Thursday. The Dow's close topped the previous record of 13,971.55 set Tuesday and marked the index's 32nd record close of the year.
Broader stock indicators also logged advances Thursday. The Standard & Poor's 500 index rose 6.91, or 0.45 percent, to 1,553.08; its previous record of 1,552.50 occurred Friday. The technology-focused Nasdaq composite index rose 20.55, or 0.76 percent, to 2,720.04, following a round of upbeat tech earnings.
This IS awful! Quick! Raise taxes so we can stop this evil, capitalist growth!!
I saw a metrosexual corporate lawyer standing on a street corner this morning holding a sign that said, “Will sue for double mocha, half decaf, soy latte.”
Exciting as hell... But I think the time to get off the roller-coaster is right now.
Shhhh!!! Democrats haven't grasped the concept of sarcasm yet.
According to Democrats, when the stock market soared when Bill Clinton was president, it was a response to Clinton’s tax and economic policies.
But with the stock market doing so well now, they can’t give any credit to Bush’s tax and economic policies. Maybe blame can be given to Bush for tax cuts, which the wealthy invested in stocks and pushed the market to unrealistic highs????
Bush set a standard that has given investors confidence. It was his Justice Dept. that went after Enron and Worldcom and all the rest.
Amazing how little coverage this gets on the MSM. But a few months ago when there were some minor downturns, it was wallpapered.
Perhaps the surge in the stock market isn't all due to the tax and economic policies of Bush, but rather the profits of war related industries fueled by the untold billions (borrowed money) the government is feeding into the economy each month?
Now it is time to worry.
C'mon, this is just more evidence of the "Two Americas" (per John Edwards, et. al.)!!! The "rich" are getting richer at the expense of the "poor working class."
Duh!
/sarc (leave nothing to chance)
This war is just ruining our economy!
/sarcasm off
/barf bag still on
|
Precious medals do serve their purpose :)
metals
I’ll get a sign that says “Will counter-sue for defamation of male character.”
“You know, in this business, you don’t have any control over what the press says and how they portray things. And that’s their prerogative. But I think anybody who looks at it objectively has trouble making the case that somehow this is a bad economy.” ~ Vice President Dick Cheney
Sic ‘em, Dick! :)
Don’t rain on their parade :-) Besides where else can the poor foreign slobs stuck with trillions of depreciating dollars find a return? It’s better to own the companies than the soon to be worthless paper dollar. Not to mention the all the 401Ks that have nowhere else to put our money month after month and the Federal Reserves “plunge protection” team going into action when needed. I seriously doubt this rise was fueld by the retail investor. I seriously doubt that at all.
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