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Wed Mar 6, 2013, 06:06 PM

US stocks edge up following Dow's record day

Source: AP-Excite

By MATTHEW CRAFT

NEW YORK (AP) - After barreling through a record the day before, the Dow Jones industrial average meandered higher on Wednesday.

The Dow edged up 42.47 points, or 0.3 percent, to close at 14,296.24. An encouraging job-market report helped nudge the stock market up and pushed bond prices lower.

On Tuesday, the Dow blew past the previous all-time high it hit more than five years ago. The index of 30 big corporations has more than doubled since hitting a low during the financial crisis in March 2009.

The question now is, how much longer can it keep climbing?

FULL story at link.


Read more: http://apnews.excite.com/article/20130306/DA4RREJG0.html





In this Tuesday, March 5, 2013, file photo, specialist Christian Sanfillippo, right, smiles as he works at his post on the floor of the New York Stock Exchange. The Dow's new all-time high and better economic data from the United States propelled world stock markets higher Wednesday March 6, 2013. (AP Photo/Richard Drew, File)

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Response to Omaha Steve (Original post)

Wed Mar 6, 2013, 07:09 PM

1. Some conservatives are claiming that this stock market run up is

proof that the sequester is not harming the economy. But there is an old saying. "The stock market is not the economy and the economy is not the stock market."

And then of course conservatives talk out of both sides of their mouth by claiming that gains in the economy should not be credited to President Obama's polices which of course is another lie.

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Response to totodeinhere (Reply #1)

Wed Mar 6, 2013, 09:34 PM

3. Given inflation ...the DOW is not at record levels. It's only a number. n/t

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Response to Omaha Steve (Original post)

Wed Mar 6, 2013, 09:33 PM

2. The DOW is not relevant to the common person. It is for the top 10% who are invested.

Even then the DOW is not needed to be observed everyday ...here on DU or else where. Of course AP needs to think it's doing something worth while besides supplementing words for actual quotes.

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Response to L0oniX (Reply #2)

Thu Mar 7, 2013, 11:34 AM

4. off by a factor of five, and that excludes pension funds

54% own stocks in 401ks, IRAs or investment accounts. Plenty of the rest have pension funds which nigh universally invest in stocks.

Not to mention that the customers, vendors and employers of the vast majority of Americans likewise have investments in equities and are in some part driven to spend more or less based on the gains or losses the see. There's a reason the stock market crash of 1929 sparked a depression and that was when only a very few people really did own stocks. The idea that anyone, with the possible exception of barter-based subsistence farmers, is isolated from the equity markets in the US is naive. Even drug dealers need cash buyers, and those buyers must get that cash directly or indirectly from the willingness of corporations to spend, to employ, and to raise money, all of which depend in large degree on the equities market.

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Response to dmallind (Reply #4)

Thu Mar 7, 2013, 11:57 AM

5. "the DOW is not needed to be observed everyday" Those that did not panic and stayed in the market...

now have mostly recouped. If you are in it for the long run then you don't need to pay attention to the DOW everyday or every week. Maybe every 3 months might be worth it.

I don't know why you responded with who is affected. My post had nothing to do with that. Thanks for playing.

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Response to L0oniX (Reply #5)


Response to L0oniX (Reply #5)

Wed Mar 13, 2013, 01:06 PM

7. Major discrepancy

Your title:"The DOW is not relevant to the common person. It is for the top 10% who are invested."

Your claim:"I don't know why you responded with who is affected. My post had nothing to do with that."

Both simply cannot be true

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Response to whatthehey (Reply #7)

Wed Mar 13, 2013, 05:57 PM

8. Well you have combined both of my posts ...not me.

My first opinion was/is about questioning the necessity of day to day observation of the DOW ...which is skewed anyway. It's just a number and is not a true representation of the economy. If it did then it would have figured inflation. Unless you are a stock broker there is no good reason to pay attention to the DOW everyday.

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Response to whatthehey (Reply #7)

Thu Mar 14, 2013, 06:01 AM

9. Hey ~ whatthehey

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