"Vic Smith" wrote in message
...
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


Yeah, you're probably right, but it is one of several signals that things
are not slipping quite so fast. I heard on NPR that foreclosures will
continue to increase until mid- to late next year. The next big test will be
the holiday shopping season, if nothing more than to show if confidence is
improving. I am making my list of gifts, but I'm not going to go hog
wild.... maybe an iTouch here, a netbook there, here a book, there a book,
everywhere (else) a book/book.

--
Nom=de=Plume

On Wed, 14 Oct 2009 15:33:32 -0700, "nom=de=plume"
wrote:



Yeah, you're probably right, but it is one of several signals that things
are not slipping quite so fast. I heard on NPR that foreclosures will
continue to increase until mid- to late next year. The next big test will be
the holiday shopping season, if nothing more than to show if confidence is
improving. I am making my list of gifts, but I'm not going to go hog
wild.... maybe an iTouch here, a netbook there, here a book, there a book,
everywhere (else) a book/book.

The only thing the DJIA has signaled in many years is debt.
The higher the DJIA the deeper the nation is in debt.
Not hard to post good earnings when the U.S. taxpayer forks over
trillions of bucks to Wall Street.
Here's a pretty chart.
http://money.cnn.com/news/storysuppl...ker/index.html
But at least we can be thankful for the record bonuses divvied up by
Wall Street firms.
hehe.
Same old, same old. Glad Obama is bringing hope and change though.
Let's see if his health care program heavily subsidies the health
insurance companies with taxpayer money, while premiums continue to
rise.
That might be harmful to him.

--Vic

On Wed, 14 Oct 2009 17:53:04 -0500, Vic Smith wrote:


Same old, same old. Glad Obama is bringing hope and change though.
Let's see if his health care program heavily subsidies the health
insurance companies with taxpayer money, while premiums continue to
rise.
That might be harmful to him.

This recession has changed something, Americans are saving. We are up to
5 1/2%. Can't say that it's a long term change, but...

"thunder" wrote in message
...
On Wed, 14 Oct 2009 17:53:04 -0500, Vic Smith wrote:


Same old, same old. Glad Obama is bringing hope and change though.
Let's see if his health care program heavily subsidies the health
insurance companies with taxpayer money, while premiums continue to
rise.
That might be harmful to him.

This recession has changed something, Americans are saving. We are up to
5 1/2%. Can't say that it's a long term change, but...


That's a big change that might not go away. Once people see the result, they
have trouble stopping. I did this with my niece. She was 10. We talked about
compound interest in practical terms... say, you want to buy the latest mp3
player, but you don't have enough money, etc. I started her off with $300,
with the promise by her that she would not spend it for two years, that she
would still get her usual horribly spoiling behavior from her aunt that her
mom hates but tolerates. Two years is almost up and now she's saving for a
new computer. To be fair, she got the mp3 player as a gift. :-)

--
Nom=de=Plume