Stocks jump as Bernanke says economy near recovery (Mega Barf Alert!)

YahooNews ^ | 08/21/09 | SARA LEPRO

[AngelesCrestHighway]

NEW YORK – Federal Reserve Chairman Ben Bernanke has told investors what they want to hear: The economy is indeed on the verge of recovery. And investors have responded Friday by enthusiastically buying stocks. Major stock indicators have all surged more than 1 percent and hit new highs for the year. And Treasury prices have tumbled and pushed yields sharply higher, as investors no longer felt they needed the safety of government debt. Bernanke told a Fed conference, "the prospects for a return to growth in the near term appear good." That sent the Dow Jones industrials soaring 155 points to 9,505. The Standard & Poor's 500 index is up 18 at 1,026 and the Nasdaq composite index is up 31 at 2,020.

[AngelesCrestHighway]

Oh brother!....Please! What a pile of crap!

[brownsfan]

How come when Bernanke bakes up a cow pie like this, the press eats it without question.
If Bush was in office... it would be “Where are the jobs Mr. Bush?!”

Rhetorical question, I know the answer.

[paul51]

suckers market. Which investors will be holding the empty bag when the music stops?

[cripplecreek]

Federal Reserve Chairman Ben Bernanke has told investors what they want to hear

No doubt about that.

[xtinct]

Stocks Jump ==== Obambi is on vacation!!!

[Huskrrrr]

Great, prosperity is just around the corner. How many green shoots does it take to make a recovery?

[John123]

has told investors what they want to hear

In my opinion, everyone gets what they want from the markets...

The contrarians, on the other hand would fade the markets at this point because most investors are bullish...

[MNJohnnie]

Hmm ok, if everything is magically fixed because Bennie says it, then he and that other bozo are responsible for trashing it with all their irresponsible rhetoric last year during Obama’s campaign.

[b4its2late]

Hey, I hope he’s right. But I really don’t believe he is. But time will tell......

[FateAmenableToChange]

Didn’t they try this in the ‘70s? I mean releasing wishful information to misdirect the markets in the way they wanted it to go? That worked well.

[AngelesCrestHighway]

I have no further doubts this market is totally manipulated. There’s no way in hell the market should be where it is.....

[DAC21]

After the beating my 401k took in 2008 and early 2009, I'll take the bump in the market, bogus recovery call or not. But I'll be quicker on the trigger to get to 100% cash when this thing corrects, and it will correct.

[dancusa]

MSM bum kissers = Pravda.

[VisualizeSmallerGovernment]

Alternate headline: “Stocks Jump As Obama Leaves Town With Low Approval Rating And Health Care Reform In Flames”

[HighlyOpinionated]

The only reason the Dems do this is that if they say things are better they know Wall Street will respond positively.

Then on Monday we find out the truth and the Stock Market plummets.

[throwback]

I think my Yorkie farted coincident with the market rising as well. Well actually I consider Yorkie farts as more inspiring then Bernanke verbiage, so this may not actually be sarcasm.

[dancusa]

[STONEWALLS]

...IMHO our troubles are far from over...however, closing at 9500 is a whole lot better than being down 500 for the week...I’ll take it because I made a little money today.

[AngelesCrestHighway]

I don’t think the market is going up because Obama is tanking. When this thing drops, it will be so damn fast no one will have a chance to sell. I remember in 1978, you couldn’t sell even if you wanted to. If your order did go through,you got some price a long way up or down from where you thought you sold....

[Huskrrrr]

You have a point.