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Stocks Close Above 14,000 For First Time (Worst...Economy...Ever)
AP ^ | Thursday, July 19, 2007

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.


TOPICS: Breaking News; Business/Economy; News/Current Events
KEYWORDS: dow; herberthoovereconomy; thebusheconomy; wgids
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To: kristinn
President Bush gets no credit for cracking down on corrupt CEOs and accounting firms after they had gotten away with murder under Clinton.

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.

61 posted on 07/20/2007 4:00:19 AM PDT by Hardastarboard (DemocraticUnderground.com is an internet hate site.)
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To: TampaDude

Here is an actual letter to the editor from today’s Austin paper. You have to register to read online.


Simply put

This is the worst economy in 50 years. Thanks, President Bush.

JERRY STRANGE

Austin


http://www.statesman.com/opinion/content/editorial/stories/07/20/0720letters_edit.html


62 posted on 07/20/2007 5:02:51 AM PDT by Arrowhead1952 (Stop the invasion. Secure the borders now.)
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To: SConservative; All
48 posts before we get to Bush’s fault? Someone is slipping up.
63 posted on 07/20/2007 6:36:47 AM PDT by Between the Lines (I am very cognizant of my fallibility, sinfulness, and other limitations.)
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To: kristinn

Yep, worst economy since the Great Depression. That *)&)(*&)& Bush!!!

The left can’t figure this one out. Heh heh heh...


64 posted on 07/20/2007 8:11:57 AM PDT by DoughtyOne (Victory will never be achieved while defining Conservatism downward, and forsaking it's heritage.)
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To: EQAndyBuzz
Ride it to 15,000.

Down 120 so far today. Is this the momentum-gathering stage of the ride?

65 posted on 07/20/2007 8:14:55 AM PDT by RightWhale (It's Brecht's donkey, not mine)
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To: kristinn

MINORITIES AND WOMEN HIT HARDEST


66 posted on 07/20/2007 8:16:36 AM PDT by stockstrader (We need a conservative candidate who will UNITE the Party, not a liberal one to DIVIDE it!)
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To: Mike-o-Matic

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?


67 posted on 07/20/2007 8:20:07 AM PDT by RightWhale (It's Brecht's donkey, not mine)
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To: kristinn
"Bush set a standard that has given investors confidence. It was his Justice Dept. that went after Enron and Worldcom and all the rest."

Thank you President Bush! 

68 posted on 07/20/2007 8:27:40 AM PDT by 1035rep
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To: kristinn
In the capsule summary on page 1 of the 14000 story in the Colorado Springs Gazette this morning, the seventh word is "BUT".
69 posted on 07/20/2007 8:27:59 AM PDT by cookcounty (Famous Quotes: "I have not yet begun to fight!! ...and I'm so terribly exhausted!" --Capt Harry Reid)
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To: TINS
"Stocks Close Above 14,000 For First Time"

Great news!

70 posted on 07/20/2007 8:40:51 AM PDT by 1035rep
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To: Glenn

I learned something the hard way, “You never lose money by taking a profit!”


71 posted on 07/20/2007 9:49:37 AM PDT by Holicheese (Zap Razdowler Rules!)
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To: expatguy

DOW would be a lower if not for the large money supply inflation being done.


72 posted on 07/20/2007 11:38:28 AM PDT by OldArmy52 (Bush's Legacy: 100 million new Dem voters in next 20 yrs via the 2007 Amnesty Act.)
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To: 1035rep

uhhh...did you read what i wrote?


73 posted on 07/20/2007 2:44:13 PM PDT by TINS
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To: Libertina

They meant: We don’t report on the good economy, this is a biased new station.


74 posted on 07/20/2007 2:58:52 PM PDT by Rennes Templar ("The future ain't what it used to be".........Yogi Berra)
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To: kristinn
Today, there was a huge sell off as savvy investors cashed in their profits. No big mystery. What goes up must come down. U.S. stock markets are primed for a 10% fall back.

Yes, all the signs say Sell, Sell, Sell !

75 posted on 07/20/2007 4:15:47 PM PDT by ex-Texan (Matthew 7: 1 - 6)
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To: RightWhale

“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.


76 posted on 07/20/2007 5:32:50 PM PDT by EQAndyBuzz (Not all Liberals are Communists, but all Communists are Liberals.)
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To: Rennes Templar

You’ve got THAT right!


77 posted on 07/20/2007 7:11:40 PM PDT by Libertina (FRee Republic - The most prestigious address on the WWW!)
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To: Between the Lines
48 posts before we get to Bush’s fault? Someone is slipping up.

Uh...check out post #15...

78 posted on 07/20/2007 9:41:11 PM PDT by TampaDude (Do not taunt Happy Fun Ball.)
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To: kristinn

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!!!!


79 posted on 07/21/2007 12:17:49 AM PDT by Cinnamon
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To: kristinn

Rooovvve!!!


80 posted on 07/21/2007 7:14:10 AM PDT by Cinnamon
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