Dow closes over 11,000

Discussion in 'Stock Market' started by Chris, Apr 12, 2010.

  1. Chris
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    Chris Gold Member

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    NEW YORK (CNNMoney.com) -- Stocks managed gains Monday, with the Dow industrials closing above 11,000 for the first time in 18 months, after European leaders made loans available to Greece, tempering fears that the nation might have to default on its debt.

    But lingering concerns ahead of the start of the quarterly reporting period limited the gains.

    The Dow Jones industrial average (INDU) added 8 points or 0.1%, finishing at 11,005.97, the highest close since Sept. 26, 2008, when it ended at 11,143.13.

    CNNMoney.com Market Report - Apr. 12, 2010
     
  2. Old Rocks
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    Old Rocks Diamond Member

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    Well, if April continues and increases the number of Americans at work, I think that we can say a corner has been turned.

    And the worst fears of the wingnuts will be realized. President Obama delivered not only on his principle promise of Health Care, but also did what he promised on the economy, a slow, but sustained recovery. Such a sad thing to see these people wailing over the fact that more Americans will have access to Healthcare, and be employed.
     
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  3. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    Trading volume has been very low - it doesn't take much to move a stock price. The markets will probably continue to be frothy for the rest of this year:

    - Earnings comparisons vs 2009 are going to look good after all of the cost cutting.

    - Bush tax cuts expire in 2011. The big players will promote an impression that things are getting better to lure retail investors into the market while they reduce their holdings prior to 2011. It's difficult to sell stock when there are no buyers - so buying must be encouraged.
     
  4. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    It's JOBS, stupid.

    The stock market indices are cold comfort to the 15M people who are currently counted as unemployed by the government (the actual figure is larger). 44% of them have been out of work for more than 6 months. Unless we enter a phase of serious real job creation, piling on more spending and debt is not going to serve the Obamunists very well.
     
  5. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    162,000 jobs added last month. Lets see what happens in the next few months and see if the momentum can carry on. All those jobs were not lost in one month and they will not return in one month.

    Keep your fingers crossed boedicca
     
  6. uscitizen
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    uscitizen Senior Member

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    We still had a net loss of jobs though didn't we?

    imho until we have a net gain in jobs for 3 consequetive months no corner has been turned.
     
  7. Toro
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    Toro Diamond Member

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    Generally, stocks don't fall after the first significant positive turn in the jobs report.

    I do think we are going higher but the majority of the gain off the bottom has been made IMHO.
     
  8. rdean
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    rdean rddean

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    The White Wing would rather see the country suffer than a black president succeed.
     
  9. Zona
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    Zona A guy in ariZONA

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    Socialist!

    The United states would be better if the market was in the toilet until OBama gets out of office. Don't you know this? Oh and we are all happy as a country because we didn't get the olympic bid. Remember that one? OH and we are unhappy because our president won the Nobel prize. Remember that one?

    Oh and if the unemployment rate continues to go down, we will be upset until Obama gets out of office. OH and if the economy continues to get better, we will be upset until Obama gets out of office.
     
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    Last edited: Apr 12, 2010
  10. Jos
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    Jos BANNED

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    and the Dow goes up, does that meanthe Dow is worth more, or that your Dollar is worth less?
     

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