The MSM doesn't report good news, only bad news about the President or Republicans.
Posted on 10/24/2005 2:27:46 PM PDT by advance_copy
NEW YORK (AP) -- Wall Street staged an impressive rally Monday after the nomination of top White House economist Ben Bernanke as the next Federal Reserve chief, with the Dow Jones industrial average soaring nearly 170 points. Strong quarterly earnings from drugmakers and lower oil prices bolstered the gains.
Stocks were already advancing when news came that President Bush picked Bernanke, chair of the president's Council of Economic Advisers, to succeed Chairman Alan Greenspan when he retires in January. Bernanke was widely seen as continuing Greenspan's policy of fighting inflation.
Meanwhile, upbeat profit reports at Merck & Co. and Schering-Plough Corp. eased earnings concerns prompted by Pfizer Inc.'s weak forecast last week. Encouraging results from American Express Co. late in the day also lifted stocks.
At the close of trading, the Dow climbed 169.78, or 1.66 percent, to 10,385.00, its largest single-day gain since a 206-point advance April 21.
Broader stock indicators also rose sharply.
(Excerpt) Read more at biz.yahoo.com ...
Some would argue that a modest amount of inflation is good for stock prices. Since Mr. B is supposedly a fan of an "inflation target" some have concluded he will accept some inflation as opposed to Greenspan's no-tolerance approach.
The markets are jittery because that is their natural state. Bull markets climb a wall of worry.
Well, since the bond and currency markets are vastly larger than the stock market, I'll take my cue from them for now.
oil just started to breach the $60 per barrel level - once it clears technical support, Look Out Below!
?????? You might as well run your life by playing pin the tail on the donkey each day when you get up ROFLMAO
What are you talking about? Stocks - ie shares of companies with an ability to increase earnings - are the only equitites with the ability to sustain themselves above & beyond inflation and having been doing it for decade after decade.
I don't think size has anything to do with it. It's about the flow of money. If equities are coming back into favor with investors because the new Fed chief's policy is thought to be friendly to equities, money will flow from bonds to stocks.
You want to try posting that again in something similar to english?
Seems like Wall Street has responded to a choice that won't take effect for a while and when it does take effect who knows what the effect would be. Seems like a mindless thing to do.
I think he's trying to say that if you see a group of people and each one has his hand in the someone else's wallet pocket, you're looking at a crowd of currency traders.
The markets always trade six months ahead. Buy on the rumor, sell on the news.
I don't know if it's "normal" or not.
But that's what it was when Dubya took office...
so that's what it has to go below before he can claim any credit.
The MSM doesn't report good news, only bad news about the President or Republicans.
Well, DUH.
When a lot of money moves from bonds into stocks, the stock market rises and the bond market falls. This is a sign of economic optimism. The reverse is a sign of economic pessimism.
BAMM! Stomped another commie!
Good luck to Mr. Bernanke.
Today would have been a good day to sell. Seems most investors were buying. But, I am still marooned on Cramer Island and waiting for a bigger boat. What the heck, no hurry, plenty of coconuts and mangoes, the island isn't sinking, yet.
People who know more than you are Commies?
I'm not the one saying he should get credit. I'm just saying the media pins the blame for higher prices, and they'll never give corresponding credit to a GOP president for good news. Hells bells, Willie, the MSM still does NOT credit Reagan for doing anything that helped rebuild the American economy after a woeful decade.
I would say that $1.65 plus inflation over the last 5 years would be a better barometer of success, regardless of who is responsible, than the same price it was when he took office. And if Bush has his way, and its looking more likely, we'll be extracting more oil from the ANWR and the ocean. Good things, don't you think?
The price gouging whiners will NEVER understand simple supply/demand ecnomics.
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