Posted on 12/05/2007 10:04:36 AM PST by rightinthemiddle
Wall Street Rises Sharply on Hopes About Economy, Rate Cut
NEW YORK (AP) -- Wall Street rallied Wednesday after new data showed the U.S. economy is in good shape and that another interest rate cut is still a possibility. The Dow Jones industrial average rose almost 200 points.
Stocks turned around following two sessions of losses after a report showed hiring in the U.S. private sector expanded at a faster pace in November. ADP Employer Services said 189,000 jobs were added during the month -- an increase that bodes well for consumer spending.
The report raised hopes for a strong November jobs report from the Labor Department on Friday. Investors were also encouraged Wednesday after the department reported worker productivity advanced by an annual rate of 6.3 percent in the summer, the fastest pace in four years, while wage pressures eased.
"The best news for the market is good news on the economy," said Jack Ablin, chief investment officer at Harris Private Bank. "There might be a general malaise among homeowners these days, but as long as more people are getting paychecks then the economy can withstand the stress."
(Excerpt) Read more at biz.yahoo.com ...
ping
Strong economic data? I thought all the middle class were now going hungry and all the soup kitchens and food banks are running on empty...
Has anybody pinged ‘Hydroshock’?
‘Strong economic data? I thought all the middle class were now going hungry and all the soup kitchens and food banks are running on empty...’
(chuckle)
Careful, you’ll cause the doom and gloom crowd to faint.
Yeah, I heard millions were going to lose their homes. Everyone is “uncertain” about the economy. Most aren’t “participating” in the market. There’s a “credit crunch” ahead.
MSN is still putting “Recession?” on it’s home page about every day.
See post #2.
Good news travels very slowly.
I think he’s been banned.
It’ll be interesting to see how the Dem candidates respond to this... if at all.
but but but isn’t this the “worst economy in decades”??????
/Democrat Gloom and Doom monger
Type in “recession” in Google News Search.
It’s a hoot. Hundreds of articles predicting recession in the past couple of days.
The MSM does this crap every election year when Republicans are in the White House or control Congress.
But, when the Democrats are in control, it’s all sunflowers and lilacs.
Just yesterday from Rooters:
Credit and Economic Woes Sink Wall Street
I practically forced him to post some good news every now and then.
Yep,he’s been banned,but I can’t figure out why.His posts didn’t seem to have any profanity,attacks,racism,etc.,,
Does anyone know whats up with Fox news and their 6pm stock reporting?
They dropped the S+P and now have the stupid Fox 50
Economic anxieties give Democrats the edge
http://www.freerepublic.com/focus/f-news/1934750/posts
So much for that pipedream.
Oh, they can just make up the news. No matter the truth, the MSM/Democrats just say “people are ‘anxious’ about their futures and the economy.
Populism is effective.
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