S&P Hits 5-Year High

Discussion in 'Economy' started by TruthOut10, Jan 22, 2013.

  1. TruthOut10
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    TruthOut10 Active Member

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    * Blue chips: Travelers up after results, J&J slips

    * Google, IBM and Texas Instruments to report after the bell

    * Dow up 0.4 pct, S&P 500 up 0.3 pct, Nasdaq up 0.01 pct

    By Rodrigo Campos

    NEW YORK, Jan 22 (Reuters) - Cyclical sectors led the Standard & Poor's 500 to a five-year intraday high on Tuesday as traders gobbled up bank and commodity shares on hopes the global economy continues to mend.

    The market also gained on signals that Republican leaders in the U.S. House of Representatives aim on Wednesday to pass a nearly four-month extension of the U.S. debt limit. The White House welcomed the move on Tuesday, saying it defuses fears of a U.S. default on its debt.

    Adding to the upbeat sentiment, Portuguese 10-year debt yields fell below 6 percent for the first time since late 2010 on news that the country was set to tap the bond market this week for the first time since it was bailed out in 2011.

    S&P 500 Hits 5-Year High On Possible Debt Ceiling Deal, Global Economy Hopes
     
  2. Rshermr
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    Rshermr VIP Member

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    So, in general, the market signs are good for a number of reasons. Certainly the stock market has been doing well. And GNP has been growing at a good pace. Really, the remaining issue is unemployment, which is historically always the last to improve. But it shows signs of moving further into good numbers.

    A strong shot of stimulus spending aimed at infrastructure should help greatly. But repubs are holding hard on not allowing that to happen. Cutting spending will throw more cold water on unemployment as it always does when the UE rate is high.
     
  3. CrusaderFrank
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    CrusaderFrank Diamond Member

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    So Bush was right to want to partially privatize Social Security.

    Go figure
     
  4. CrusaderFrank
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    CrusaderFrank Diamond Member

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    Anyone?

    anyone?

    Bueller?

    anyone?
     
  5. Sallow
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    Sallow The Big Bad Wolf. Supporting Member

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    No he wasn't.

    I lost 50K in my 401K in the last year of Bush's second term.

    That's alot of ducats.

    :eusa_eh:
     
  6. CrusaderFrank
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    CrusaderFrank Diamond Member

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    Did you read the OP?
     
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  7. Rshermr
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    Rshermr VIP Member

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    Well, it would certainly have been a great thing for all of the brokerage firms that would have handled the trades. But not sure anyone would have been real happy with what happened to their retirement holdings as Bush was leaving and the market was tanking. Ya think, Crusader?
     
  8. EdwardBaiamonte
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    EdwardBaiamonte Gold Member

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    yes, 15% of our life time income in a private account would make the average American worth $1.4 million at retirement. Under SS you get dog food money if you live long enough to collect a penny!
     
  9. SteadyMercury
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    SteadyMercury Gold Member

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    Invested in what?

    Is the $1.4 million figure in inflation adjusted dollars or just using dollars from when they started working? If I'm starting work now and am looking forward to having 1.4 million in 45 years that might not be quite as impressive a figure in the year 2058.
     
  10. EdwardBaiamonte
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    EdwardBaiamonte Gold Member

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    any investment that pays 4-6%

    when started working

    Well you're salary will benefit from huge liberal inflation and hopefully many raises over the next 45 years so $2-4 million is not unrealistic.
     

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