Dow gains 100 points

Discussion in 'Stock Market' started by Chris, Oct 13, 2010.

  1. Chris
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    Chris Gold Member

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    NEW YORK (CNNMoney.com) -- Stocks rallied Wednesday as investors bet that the Federal Reserve is moving towards a more accommodative policy.

    After climbing 130 points earlier in the session, the Dow Jones industrial average (INDU) closed up 76 points, or 0.7%, according to early tallies. The S&P 500 (SPX) gained 8 points, or 0.7%, and the Nasdaq (COMP) rose 23 points, or 0.9%.

    The advance began after blue chips JPMorgan Chase and Intel reported quarterly earnings that beat Wall Street estimates. But traders said the rally was driven by speculation the Fed will announce plans next month to resume large-scale purchases of Treasurys, a strategy called quantitative easing.

    "Earnings so far have been strong, and that's definitely a positive," said Abigail Doolittle, a portfolio manager at Johnson Illington Advisors. "But everything is taking a backseat to this incredible focus on QE2," she added, using Wall Street shorthand for the Fed policy.

    CNNMoney.com Market Report - Oct. 13, 2010
     
  2. Revere
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    Revere BANNED

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    Accommodative poilcy=print money.
     
  3. Two Thumbs
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    Two Thumbs Platinum Member

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    So the people that have money made money.

    good for them.

    How's the unemployment numbers doing?
     
  4. Chris
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    Chris Gold Member

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    I'm making tons of money.

    But then I work seven days a week.
     
  5. Charles_Main
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    Charles_Main AR15 Owner

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    isn't Libs like you who always told us when Bush was in power and the Stock market did well. That is was just the rich getting richer?
     
  6. Toro
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    Toro Diamond Member

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    The market is rising because of quantitative easing and rising inflation expectations, nothing else. This is not something anyone on the left should be pounding their chest about.
     
  7. CMike
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    CMike Zionist, proud to be

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    100 points isn't that great.
     
  8. Harry Dresden
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    Harry Dresden Latinum, Plantinum,Silver,Gold Member Supporting Member

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    yes he was.....its a different story when Chrissey is doing well.....
     
  9. william the wie
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    william the wie Gold Member

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    A) it was not a 100 point gain but a 76 point gain.
    B) It was a 0.7% gain i. e. a rounding error.

    So this thread exists for what reason?
     
  10. topspin
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    topspin BANNED

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    stocks do better generally under democratic Presidents so does GDP.
    There are great companies at cheap prices that's the best reason to buy any stock. And a low inflation and recovering economy is good as well.
     

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