Dow Near Record High - Again

[maineman]

twit

 

[red states rule]

from your spam:

Accounting scandals by year first reported
Nugan Hand Bank (1980)
ZZZZ Best (1986)
MiniScribe (1989)
Polly Peck (1990)
Bank of Credit and Commerce International (1991)
Phar-Mor (1992)
Q. T. Wiles
Bio Clinic (1994 to 1995)
Sunrise Medical (1994 to 1995)
Cendant (1998)

The major fraud that caused Wall Steet to panic happened with Enron - which was AFTER Bill left office

Xerox (2000)
One.Tel (2001) (Australia)
Enron (2001 - Jeffrey Skilling, Kenneth Lay,
Andrew Fastow)

These were major players on the Dow - and investors wondered how many mroe companies were involved

Twit

 

[maineman]

The major fraud that caused Wall Steet to panic happened with Enron - which was AFTER Bill left office

Xerox (2000)
One.Tel (2001) (Australia)
Enron (2001 - Jeffrey Skilling, Kenneth Lay,
Andrew Fastow)

These were major players on the Dow - and investors wondered how many mroe companies were involved

Twit

the point was made.... the scandals happened throughout the 80s and 90's....it is not a case of corporations getting away with cooking books throughout the Clinton years and the stock market being unaffected by it during that administration only to be dealt with solely by Bush.... that is your suggestion and it is bullshit. of course. twit

 

[red states rule]

the point was made.... the scandals happened throughout the 80s and 90's....it is not a case of corporations getting away with cooking books throughout the Clinton years and the stock market being unaffected by it during that administration only to be dealt with solely by Bush.... that is your suggestion and it is bullshit. of course. twit

To you Bill was God and could do no wrong

Also, add Fannie Mae and Global Crossing to the lsit of major corporations that cooked the books under Clinton

Bill allowed the problem to grow

Pres Bush wa hit with it and guess what - he fixed the problem

The economy continues to roll and libs like you continue to sulk

 

[maineman]

To you Bill was God and could do no wrong

Also, add Fannie Mae and Global Crossing to the lsit of major corporations that cooked the books under Clinton

Bill allowed the problem to grow

Pres Bush wa hit with it and guess what - he fixed the problem

The economy continues to roll and libs like you continue to sulk

you ignore the fact that clinton was hit with just as many scandals as Bush.... so any effect on the DJIA (which you still have not quantified) would be felt by both administrations.

And Clinton was far from a god as far as I am concerned. His personal life disgusted me and embarrassed me AND my party. As a husband, he was and is a poor role model. As a chief executive, he was much better than Bush, imho

 

[red states rule]

you ignore the fact that clinton was hit with just as many scandals as Bush.... so any effect on the DJIA (which you still have not quantified) would be felt by both administrations.

And Clinton was far from a god as far as I am concerned. His personal life disgusted me and embarrassed me AND my party. As a husband, he was and is a poor role model. As a chief executive, he was much better than Bush, imho

What scandals - they were barly mentioned. The liberal media was in his corner and they were hardly notcied on Wall Street since they were making money

When ENRON hit, the Bush hating media went wild

Wall Street went into panic mode

 

[maineman]

What scandals - they were barly mentioned. The liberal media was in his corner and they were hardly notcied on Wall Street since they were making money

When ENRON hit, the Bush hating media went wild

Wall Street went into panic mode

your own cut and paste article lists them. do you read what you post?

And would you please quantify the effect on the DJIA of any of this book cooking?

 

[red states rule]

your own cut and paste article lists them. do you read what you post?

And would you please quantify the effect on the DJIA of any of this book cooking?

Translation - I do not care if the corporate book keeping scandal happened under Clinton. He had a much better stock market with fake numbers the Bush has with real numbers

 

[maineman]

Translation - I do not care if the corporate book keeping scandal happened under Clinton. He had a much better stock market with fake numbers the Bush has with real numbers

why, when I ask you a difficult question, do you always refuse to answer it and, instead, come up with some hokey "translation"? WHy not try to actually answer my questions instead?

 

[red states rule]

why, when I ask you a difficult question, do you always refuse to answer it and, instead, come up with some hokey "translation"? WHy not try to actually answer my questions instead?

Translation - Stop bashing Bill. So what if his economy was bulit on a house of cards?


Yesterday the Dow has ANOTHER record close as more good economic news and corporate profits came in

 

[maineman]

given the fact that you are unable to string five words of your own together, it is no wonder than your stupid "translations" of the words of others are equally as vapid.

 

[red states rule]

The good economy really bugs the hell out of the Bush haters

 

[maineman]

The good economy really bugs the hell out of the Bush haters

I don't mind good economies...they are good for my business.

 

[red states rule]

I don't mind good economies...they are good for my business.

What business?

Manufacturing of white flags for loyal Dems?

 

[maineman]

What business?

Manufacturing of white flags for loyal Dems?

utility industy. you know...the guys who pump green kilowatts over the grid.



come ON RSR.... let's try to raise the level of debate here to something higher than grade school playground taunts. I would enjoy debating you.... but this shit is just silly and a waste of my time. can we raise it up? yes or no?

 

[red states rule]

What another terrible day for the Bush haters

Another record high on the Dow, good economic news, and those "evil" corporations are posting higher sales and profits

Can you say Dow 13,000?

 

[red states rule]

The Bush haters did not like this day at all

Stocks surge, Dow closes near 13,000

Wall Street bounded higher Friday, hurtling the Dow Jones industrial average to a record close approaching 13,000 as investors celebrated a week of surprisingly strong earnings reports. The major indexes all had their third straight winning week, their longest such streak since October.

Investors who had tempered their expectations for first-quarter earnings on Monday were energized by the initial wave of upbeat results. So far into the earnings season, 16 of the 30 Dow components have posted financial results for the first three months of the year -- with 10 surpassing analyst forecasts. Dow components Honeywell International Inc., Caterpillar Inc., Pfizer Inc., and McDonald's Corp. all reported earnings Friday.

Better-than-expected results allowed stocks to extend their best April rally in four years, and one that pushed the Nasdaq composite index and the Standard & Poor's 500 index to six-year highs.

"It's not a matter of 13,000 for the Dow, we could be looking at 14,000 by the end of the year," said Robert Froehlich, chief investment strategist for investment firm DWS Scudder. "There's too much money out there chasing too few companies. This story isn't ending anytime soon."

The Dow closed up 153.35, or 1.20 percent, at 12,961.98, after setting a new intraday high of 12,966.29. The blue chip index -- now about 38 points shy of 13,000 -- has hit 34 record closes since the beginning of October last year.

The S&P 500 index soared 13.62, or 0.93 percent, to 1,484.35, and the Nasdaq rose 21.04, or 0.84 percent, to 2,526.39. The Nasdaq, badly beaten down since its peak of 5,048.62 in early 2000, now stands at just over 50 percent of that record.

For the week, the Dow surged 2.8 percent, the S&P 500 added 2.2 percent, and the Nasdaq rose 1.4 percent. Advancing issues outnumbered decliners by more than 3 to 1 on the New York Stock Exchange, where consolidated volume came to 3.29 billion shares, compared to 2.94 billion on Thursday.

Bonds held steady as many investors focused on stocks. The yield on the benchmark 10-year Treasury note was unchanged at 4.67 percent. The dollar was mostly lower against other major currencies, while gold prices spiked.

Oil prices rose ahead of the presidential election in Nigeria, which is Africa's top producer of crude. A barrel of light sweet crude rose $1.55 to settle at $63.38 on the New York Mercantile Exchange.

Friday's advance brought fresh highs for several market indexes, indicating that the advance was more broad-based than simply a strong showing by the Dow industrials. Among the indexes setting records, the Dow Jones transportation average closed at a record level, as did the Dow Jones utilities average. The Wilshire 5000 composite index, a free-float weighted index that measures 5,000 U.S. based companies, closed above 15,000 for the first time Friday. The Russell 3000 index, which represents about 98 percent of the U.S. market, on Friday registered its fourth record close for the week.

Wall Street's advance signaled its recovery from the Feb. 27 worldwide plunge in stocks that sliced 416 points from the Dow. On Wednesday, the blue chips set their first new closing and intraday highs since Feb. 20.

The February skid was caused in part by concerns that China's economic growth might be curbed; the Shanghai stock market led the rest of the world lower. This week, Chinese stocks seesawed amid continuing concerns, but Wall Street suffered little damage.

The abundance of relatively benign U.S. economic data released this week contributed to investors' buying mood. New data indicated that builders picked up the pace of construction of new homes last month, and that there was a modest increase in core inflation.

Federal Reserve Governor Frederic Mishkin said in a speech Friday it might take a couple of years for inflation to ease toward levels that the Fed is comfortable with, which could mean that the central bank won't be cutting rates anytime soon.

Either way, Wall Street theorized this week that central bankers did not see enough evidence in recent reports to force a policy change. And that set up earnings to be a key catalyst for stocks.

"The main impetus has been, most of the bears and the gloom-and-doomers thought that first-quarter earnings would stink. Once again, the gloomy Guses have been proven wrong," said Alfred E. Goldman, chief market strategist at A.G. Edwards & Sons Inc. in St. Louis.

Google gave a boost to technology stocks after it reported late Thursday a 69 percent jump in first-quarter profit to exceed analyst expectations. The results helped reassure some investors who had grown cautious about tech growth, and sent Google up $10.83, or 2.3 percent, to $482.48.

Caterpillar was the Dow's biggest mover after the manufacturer of heavy equipment posted better-than-expected quarterly profit and issued robust profit guidance. Shares rose $3.20, or 4.7 percent, to $71.82.

Honeywell International rose $2.34, or 4.8 percent, to $51.40 after the industrial conglomerate topped Wall Street projections.

McDonald's reported quarterly profit rose 22 percent, but its shares dipped 42 cents to $48.36. Pfizer reported one-time charges that pushed profit lower by 18 percent, but the results beat expectations. The stock fell 10 cents to $26.97.

American Express Co. rose $2.05, or 3.5 percent, to $61.00 after first-quarter profit toppled Wall Street expectations. The nation's third-largest credit card brand said the period was driven by higher spending and more cards issued.

In acquisition news, H&R Block Inc. said it will sell its troubled Option One Mortgage Corp. to an affiliate of Cerberus Capital Management LP. Shares of the tax preparer rose 73 cents, or 3.3 percent, to $22.56.

Clear Channel Communications Inc. fell 21 cents to $35.75 after it announced the sale of its television group to a private equity firm for about $1.2 billion.

The Russell 2000 index of smaller companies was up 9.54, or 1.16 percent, at 828.86.

Overseas, Japan's Nikkei stock average closed up 0.42 percent. Britain's FTSE 100 was up 0.72 percent, Germany's DAX index rose 1.38 percent, and France's CAC-40 advanced 1.88 percent.

------

The Dow Jones industrial average ended the week rose 349.85, or 2.77 percent, at 12,961.98. The Standard & Poor's 500 index rose 31.50, or 2.17 percent, at 1,484.35. The Nasdaq composite index rose 21.04, or 0.84 percent, to 2,526.39.

The Russell 2000 index closed the week up 7.74, or 0.94 percent, at 828.86.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies-- ended the week at 15,009.91, up 273.47 points from last week. A year ago, the index was at 13,315.83.

http://www.businessweek.com/ap/financialnews/D8OKJDFG0.htm

 

[maineman]

no one is unhappy with a growing economy. the point has been made and it stands without question, that this is not that big of a deal given the fact that it took the Bush economy over six years to get back to where there were when they started.

 

[Paul Revere]

RSR tell us about how rising gas prices are not caused by greed.

Come on, nobody can whore for the oil companies as good as you.

 

[LuvRPgrl]

and you don't even know what the term "cooked books" really means.

you cannot give me one example -beyond enron - of any company who "cooked their books" during the clinton administration, nor can you show me how this mythical "cooking" caused the stock market to rise the way it did throughout the Clinton years

How many times can you say something that is simply wrong before you realize your an idiot?

Global Crossing. In fact, I think it was bigger than enron. Enron was simply the darling of the MSM, so much for you never quoting "DNC talking points"

Fact is, if some of you, or any of you bumbleheaded liberals would get truly informed, you would see GBLC tells a tale that shows how both parties are corrupt to the core. The only solution is smaller govt at all levels. MUCH smaller.

GBLC is not and wasnt, partisan, they gave almost equally to both parties, got "doors opened" stock price took off, and they later declared bankruptcy. A larger bankruptcy than Enron, at least thats what my source told me. Every once in a while this guy is off on his stats, so I would have to double check the actual amounts of Enron vs GBLC. However, whether bigger, or second to Enron, GBLC was in fact another "cooked book" story.

The stock market rise was due to stocks purchased on the idea of FUTURE performance, rather than PAST performance which is the more traditional way of deciding to buy. Tons of these companies hadnt, and never did make any profit, while the numbers took off, the price of these stocks, many people lost untold thousands of dollars as these companies collapsed.

THese companies, the dotcom companies, drove up the stock market while not producing products, hence it was a false bubble priced market. ALso, the market and the US economy was handed to Bush in a downward cycle. Bush and his tax cuts turned it around.