Stocks spike to new 2009 highs

[steven johnson]

Source: CNN

UPDATED: 06:01 PM EDT 07.30.09
 
NEW YORK (CNNMoney.com)
Stocks surged Thursday, hitting their highest levels in nearly 9 months, as investors eyed the latest batch of better-than-expected profits and forecasts and a report that suggested the labor market is starting to stabilize.

The Dow Jones industrial average rose 83 points, or 0.9%, ending at its best level since Nov. 4. It was also the highest close for the blue-chip index in 2009.

The S&P 500 index added 11 points, or 1.2%, ending at its highest point since Nov. 4.

The Nasdaq composite gained 16 points, or 0.8%, to reach its highest close since Oct. 1.


Read more: http://money.cnn.com/2009/07/30/markets/markets_newyork/index.htm?postversion=2009073011

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Apparently the drop in the Americans filing unemployment claims of the weekly jobless report, better profit reports, and better than expected Asian and the global economic indicators are driving the market.

[fishnfla]

1. wall street loves socialism!!!!!!

:party:

[Diane R]

2. Are you sure you know this is DU? Might you be looking for FR?

[steven johnson]

3. A Freeper? -- I think not

I've voted a straight Democratic ticket for a long time.


My father was a Roosevelt Democrat and a Union steward.

[bluestateguy]

4. No's he's right

Wall Street loves bailouts. Everytime there was news of a federal bailout, Wall Street went up, sometimes by a lot.

[TheWatcher]

5. Hmmm. 5 Replies, 0 Recs.

Could it be that people are finally waking up to the fact this is all bullshit? (Well, now that i said that The Eternal False Paradigm Brigade should be along to mightily defend this Telescreen Fodder.)

One can hope.

By the way, none of what you listed is driving the Market.

It makes for nice Propaganda though.

[Po_d Mainiac]

6. Please look harder at the numbers

Apparently the drop in the Americans filing unemployment claims of the weekly jobless report, better profit reports

Actual unemployment rose and almost across the board, revenues were down. Beating lowest profit expectations by selling more assets is not sustainable. If you sell off stuff you've already claimed as an asset on the balance sheet, it only looks as nice as the arrangement of deck chairs on the Titanic.

[tooeyeten]

7. failed Obama administration

of course that's the reason, Obama's a failure!

:kick:

[Stumbler]

8. Yay! Now let's celebrate!

Oh wait. I'm still unemployed, still vying with hundreds of others for single job openings, still can't afford decent medical care, and still waiting for my economic bailout. I'm sure if Congress gave me a couple hundred billion, I'd be whistling a different tune too.

Actually, if I could earn $3 - $5 million for one year, ONCE, I'd be able to put that money into a savings account and live modestly off the interest, "unemployed," for the rest of my life.

[Old Hob]

9. I expected a summer rally. I also expect a winter crash. we'll see. nt