For those who care about "the markets..."
wf3h wrote:
On Oct 14, 6:07 pm, Vic Smith wrote:
On Wed, 14 Oct 2009 17:45:08 -0400, H the K
wrote:
Dow closes above 10,000 for 1st time in a year
By SARA LEPRO and TIM PARADIS, AP Business Writers
NEW YORK ? When the Dow Jones industrial average first passed 10,000,
traders tossed commemorative caps and uncorked champagne. This time
around, the feeling was more like relief.
The best-known barometer of the stock market entered five-figure
territory again Wednesday, the most visible sign yet that investors
believe the economy is clawing its way back from the worst downturn
since the Depression.
The milestone caps a stunning 53 percent comeback for the Dow since
early March, when stocks were at their lowest levels in more than a decade.
"It's almost like an announcement that the bear market is over," said
Arthur Hogan, chief market analyst at Jefferies & Co. in Boston. "That
is an eye-opener ? 'Hey, you know what, things must be getting better
because the Dow is over 10,000.'"
Cheers went up briefly when the Dow eclipsed the milestone in the early
afternoon, during a daylong rally driven by encouraging earnings reports
from Intel Corp. and JPMorgan Chase & Co. The average closed at
10,015.86, up 144.80 points.
It was the first time the Dow had touched 10,000 since October 2008,
that time on the way down.
I'm sure the millions of unemployed are just tickled pink about this
news.
--Vic- Hide quoted text -
- Show quoted text -
obama can't repair ALL the damage bush did in a few short months...
Bush and the Democrats running the Senate?
|