FLASHnews: Dow closes over 12,000 for the first time

[AndyMarquisLIVE]

NEW YORK - The Dow Jones industrial average scored its first close above 12,000 Thursday as Wall Street managed to hold on to gains despite concerns about the strength of the economy.

One day after the index of 30 blue chip stocks made its first foray past 12,000, the Dow closed at 12,011.73, according to preliminary calculations. Strong results from Dow components Coca-Cola Co. and Pfizer Inc. contributed to the average’s advance.

Advanced Micro Devices Inc. plunged after its results left investors worried about falling profit margins at the world’s second-largest chip maker. Mobile telephone maker Nokia Corp. dropped after its third-quarter profit disappointed, while Germany’s SAP AG tumbled after it issued a cautious earnings outlook.

http://www.msnbc.msn.com/id/3683270/

 

[Toxick]

NEW YORK - The Dow Jones industrial average scored its first close above 12,000 Thursday as Wall Street managed to hold on to gains despite concerns about the strength of the economy.

Isn't Dow Jones supposed to be a great indicator of the economy overall?

How can they be closing that high while GWB is personally decimating the ecomony for his sadistic amusment?


I don't get it.

 

[bcp]

Isn't Dow Jones supposed to be a great indicator of the economy overall?

How can they be closing that high while GWB is personally decimating the ecomony for his sadistic amusment?


I don't get it.

Bill Clinton made a speach the other day in front of some liberal students.

investors, reacting to the sight of bill clinton once again, started trading at a loss to themselves in order to boost the Dow average.

Thank God for the power of the Clinton clan.

 

[MMDad]

Isn't Dow Jones supposed to be a great indicator of the economy overall?

How can they be closing that high while GWB is personally decimating the ecomony for his sadistic amusment?


I don't get it.

Now that's just silly. If the economy were doing well, it would be plastered all over the front of the Washington Post.

You must be using the wrong numbers. After all, if the economy were doing well, unemployment would be low.

 

[bcp]

Now that's just silly. If the economy were doing well, it would be plastered all over the front of the Washington Post.

You must be using the wrong numbers. After all, if the economy were doing well, unemployment would be low.

You know, I actually had to go look at the online front page of the Post.
there is no mention of the DJIA closing over 12k. You have to go to the standard investment block to see that it is up 19 points today.

funny, but when it went over 10k while a different pres was in office, the post had it all over the page kissing bills bulbous butt for doing it.

 

[truby20]

You know, I actually had to go look at the online front page of the Post.
there is no mention of the DJIA closing over 12k. You have to go to the standard investment block to see that it is up 19 points today.

funny, but when it went over 10k while a different pres was in office, the post had it all over the page kissing bills bulbous butt for doing it.

It's there now, posted at 5:20 pm on the FRONT PAGE.

but I'm sure it's because Republican hackers put it there...

 

[Toxick]

It's there now, posted at 5:20 pm on the FRONT PAGE.

but I'm sure it's because Republican hackers put it there...

Are you talking about this? (See attachment)



The standard investment block that bcp mentioned in his post?

 

[punjabigyrl]

I would take the all time high with a grain of salt. That shows us the economy is doing well however, S&P is DOWN...that indicates how the ecomomy is really doing. Also, keep in mind that election time is nearing and after that gas prices will go back up. I am betting on the gas prices to go up after new years. I am glad I am done with my christmas shopping.

 

[truby20]

Are you talking about this? (See attachment)



The standard investment block that bcp mentioned in his post?

No, there was actually an entire story titled "Dow Closes above 12000". They are running it again this morning, under the business section on the front page, but the headline is not as big as it was yesterday.

 

[Mikeinsmd]

I would take the all time high with a grain of salt. That shows us the economy is doing well however, S&P is DOWN...that indicates how the ecomomy is really doing. Also, keep in mind that election time is nearing and after that gas prices will go back up. I am betting on the gas prices to go up after new years. I am glad I am done with my christmas shopping.

Please do not procreate. TIA

 

[MMDad]

however, S&P is DOWN...that indicates how the ecomomy is really doing.

Did you bother looking first? The S&P is up almost 15% for the last 12 months. How does that equate to "DOWN?"

 

[FromTexas]

I would take the all time high with a grain of salt. That shows us the economy is doing well however, S&P is DOWN...that indicates how the ecomomy is really doing. Also, keep in mind that election time is nearing and after that gas prices will go back up. I am betting on the gas prices to go up after new years. I am glad I am done with my christmas shopping.

How is one basket of stocks a better indicator than the other basket of stocks? You could argue the Blue Chips that DOW represent are the historical drivers of the economy more or you could argue that S&P's ranking of their basket of 500 companies is a better broad perspective. There is no right answer. However, the stock market is actually more an indicator of peoples perspective of the economy than the actual economy. Would you say the technology economy of the 90s was really as large as its value? Obviously not... thats why it busted so hard. People stopped and realized their perception (a greedy one) was false. Now, people are realizing the economy has been doing much better than has been stated and are driving stocks up... even on days where oil has gone back up, earnings news has just been okay, etc...