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.
You know, you make a good point. I always thought it was Clinton's "anything goes" / no interference from the MSM / administration that led to a lot of that coporate malfeasance. It just seemed to me that they thought, "Hey, the President's corrupt (and probably a few of them dropped some bucks in his pocket), we can get away with it, too".
Or, as I like to say, I use the moral standard WWBCD - "What would Bill Clinton do?". It gives me a LOT more leeway.
Here is an actual letter to the editor from today’s Austin paper. You have to register to read online.
This is the worst economy in 50 years. Thanks, President Bush.
JERRY STRANGE
Austin
Yep, worst economy since the Great Depression. That *)&)(*&)& Bush!!!
The left can’t figure this one out. Heh heh heh...
Down 120 so far today. Is this the momentum-gathering stage of the ride?
MINORITIES AND WOMEN HIT HARDEST
Kurzweil is a trip all right. How about that memory chip brain implant when somebody sets off an EMP nuke and everybody forgets his key code?
Thank you President Bush!
Great news!
I learned something the hard way, “You never lose money by taking a profit!”
DOW would be a lower if not for the large money supply inflation being done.
uhhh...did you read what i wrote?
They meant: We don’t report on the good economy, this is a biased new station.
Yes, all the signs say Sell, Sell, Sell !
“Down 120 so far today. Is this the momentum-gathering stage of the ride?”
Patience is a virtue. The market was down a couple of hundred points two weeks ago. It went from 13,700 to under 13,500.
Economy is good. Companies are reporting good earnings. Inflation is low. Today something happened. It is called profit taking. Like many, today I took my profits from my investments and on Monday I will reinvest them with the hope of making more money.
You’ve got THAT right!
Uh...check out post #15...
I was listening to NPR this morning and they said something about the DOW not being able to pass the 14k mark. NPR is a very depressing group man.... eat dirt NPR!!!!
Rooovvve!!!
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