DOW closes above 13000 for the first time...

[6SpeedTA95]

Dow Jones Industrial Average Cracks 13,000 for First Time, Buoyed By Corporate Profits

NEW YORK — The Dow Jones industrial average has closed above 13,000 for the first time. It shot past 13,000 for the first time Wednesday, powered by signs that the U.S. economy and corporate profits are growing at a steady pace.

The Dow climbed to a new record as many of the country's biggest companies surpassed analysts' first-quarter earnings projections. Among those beating forecasts Wednesday: soft drink maker PepsiCo Inc. (PEP), materials manufacturer Corning Inc., consumer products company Colgate-Palmolive Co. (CL) and Dow component Boeing Co. (BA).

Wall Street got an additional lift from the Commerce Department's report of durable goods orders last month, which showed a robust gain in business capital goods. The data reassured investors that demand for U.S. products remains strong, lending support to the economy. The department also reported that sales of new homes rebounded slightly in March, as the market expected.

The earnings and economic data indicated slow, stable growth — an ideal situation for investors, who hope the Federal Reserve will abstain from raising interest rates to curb inflation.

"The U.S. economy is in pretty good shape," said Scott Wren, equity strategist for A.G. Edwards & Sons. "We want slow earnings growth. We want slow economic growth. It keeps the Fed on the sidelines."

It took the Dow just 129 trading days, since Oct. 18, to make the trek from 12,000 to 13,000, far less than the 7 1/2 years that the blue chips took to go from 11,000 to 12,000. But the swiftness of this latest trip does recall the days of the dot-com boom when the major indexes were soaring and it took the Dow a mere 24 days to barrel from 10,000 to 11,000.

The Dow was the first of the major indexes to recover from the stock market's prolonged slump in the early part of the decade. The S&P 500 has yet to reach its closing peak of 1,527.46, reached in March 2000, and no one expects the Nasdaq to reach its record of 5,048.62, also reached in March 2000, anytime soon.

Excellent news that the market is showing some signs of life after its correction in february.

[Dumpy Dooby]

Hot damn. And they say our economy is going to shit. hrmph!

[JaJae]

I'll never understand why this doesn't make front page news.

[DosEquis]

Originally Posted by JaJae

I'll never understand why this doesn't make front page news.

When the news only has a large impact on 1% of the population it doesn't typically get a whole lot of ratings.

[ballz2wallz]

Originally Posted by JaJae

I'll never understand why this doesn't make front page news.

It's on all the front pages of the sites

[6SpeedTA95]

Originally Posted by DosEquis

When the news only has a large impact on 1% of the population it doesn't typically get a whole lot of ratings.

Then why everytime the market has a bad day does it get front page news? The market DIRECTLY affects 53% of american households and that number is rising.

[kinggovernor]

Originally Posted by DosEquis

When the news only has a large impact on 1% of the population it doesn't typically get a whole lot of ratings.

this effects 99.9% of the population

[DosEquis]

Originally Posted by 6SpeedTA95

Then why everytime the market has a bad day does it get front page news? The market DIRECTLY affects 53% of american households and that number is rising.

Ok you are right, it affects a lot of people. It affects me by about $40 bucks. It affects some of those in the upper 1% by $400,000. Only the upper 1% are truly cleaning up with this, and nobody cares when they clean up. It doesn't automatically mean pay raises and new jobs for everyone. When the market does dive it does mean we have some issues with wages and employment because they just lost money and want to cut costs.

[kinggovernor]

Originally Posted by DosEquis

Ok you are right, it affects a lot of people. It affects me by about $40 bucks. It affects some of those in the upper 1% by $400,000. Only the upper 1% are truly cleaning up with this, and nobody cares when they clean up. It doesn't automatically mean pay raises and new jobs for everyone. When the market does dive it does mean we have some issues with wages and employment because they just lost money and want to cut costs.

I have never understood the democrat understanding of economics

[7960]

Originally Posted by DosEquis

When the news only has a large impact on 1% of the population it doesn't typically get a whole lot of ratings.

1% of americans have a 401k at work?

[7960]

Originally Posted by DosEquis

Ok you are right, it affects a lot of people. It affects me by about $40 bucks. It affects some of those in the upper 1% by $400,000. Only the upper 1% are truly cleaning up with this, and nobody cares when they clean up. It doesn't automatically mean pay raises and new jobs for everyone. When the market does dive it does mean we have some issues with wages and employment because they just lost money and want to cut costs.

Nobody is making a killing off a 136 point gain. But the upward trend affects EVERYONE.

[DosEquis]

How does it affect me?

[7960]

Originally Posted by DosEquis

How does it affect me?

do you have a 401k or retirement savings? does your wife? is your company public? do you have any loans? are you looking to get one in the future? do you travel abroad?


or, as you put it, do you have a job?


if your answer is yes to any of those, it affects you.

[motivez]

It's good news, but Dos is essentially saying this is way better for those making bucket loads of money off capital gains and the like than the average American.

Those people may have a 401k or a retirement plan at work, but for the time being they're still paying $3 for gas and wages are only just now starting to play catchup with the market.

[6SpeedTA95]

I love it, the ABC news leads off with the market

"The market hits 13000 but is the economy really in good shape?"

They basically came to the conclusion that the economy is struggling and consumers will begin to worry even more about gas prices and housing. They also mentioned the fact that the market is way overdue for a correction but failed to mention the rebound has been slower than previous bull markets thereby minimizing the need for a large correction. This is pathetic

[7960]

Originally Posted by 6SpeedTA95

I love it, the ABC news leads off with the market

"The market hits 13000 but is the economy really in good shape?"

They basically came to the conclusion that the economy is struggling and consumers will begin to worry even more about gas prices and housing. They also mentioned the fact that the market is way overdue for a correction but failed to mention the rebound has been slower than previous bull markets thereby minimizing the need for a large correction. This is pathetic

you're stupid.......only FOX is biased

[JaJae]

The reason consumers worry about the market is because of news reports like that one that tell people to.

[grembert]

Thousands, sometimes millions, of people are buying and selling stocks daily, using different types of information, and approaches. That was makes the whole thing interesting and unpredictable.

My brother takes a type of economic journal. When a report says buy something immediately, he has learned to do so immediately. The same with selling. The stock market is a whole separate world that is influenced by the rest of the economy but has its own set of rules.

[Donkey®]

The Dow has been on the rise since...since forever. Not sure why this is an indication of anything...just like the "correction."

[SpicyMcVoodoo]

I need to buy a leveraged index fund and not touch it for 40 years.