Stocks soar as confidence builds

[Chris]

The Dow jumps more than 200 points; the S&P 500 and Nasdaq are ahead in 2010 for the first time since June. Economic reports from China, Europe and the US are better than expected. Oil tops $81.

Stocks started August with a bang, jumping at the open on better-than-expected reports on manufacturing and construction spending.

The move also got a big boost from rallies in Europe that lifted the euro against the dollar. The cheer from Europe, in turn, sent crude oil above $81 a barrel and led to a rally in copper.

At 3:36 p.m. ET, the Dow Jones industrials ($INDU) were up 222 points, or 2%, to 10,688.

Stocks soar as confidence builds- Market Dispatches - MSN Money

 

[Oddball]

Who cares?...Just a bunch of them eeeevil rich people cleaning up on the backs of the sainted poooooooooooor.

Right, Chrissy?

 

[Truthmatters]

The job numbers have been low here due to the Oil spill job loss.

 

[rightwinger]

More Economic Good News as the panic over EU financing subsides

Great for anyone with retirement savings in the Market

 

[topspin]

I hope that it is a confidence thing, as the recent economic news has been weaker than expected. Though earnings have been up about 30%.

 

[Tech_Esq]

Everything is still trading in a bracket, don't get too excited. There is still money to be made in the bracket though.

 

[Douger]

3 grand so far today.

Otras cosas.
When one thing dies another takes it's place.
Mpyre gets replaced with empire.
Until you figure that out, you lose.

 

[Oddball]

The job numbers have been low here due to the Oil spill job loss.

Right...The oil spill is driving the over 10% national unemployment rate.

 

[Jeremy]

The job numbers have been low here due to the Oil spill job loss.

Right...The oil spill is driving the over 10% national unemployment rate.

You must spread some reputation around before giving it to Dude again.

 

[topspin]

12 grand for me

 

[Jeremy]

ONE MILLION DOLLARS!!!!

 

[Avatar4321]

The job numbers have been low here due to the Oil spill job loss.

Did you factor in the jobs created by the need to clean up the oil spill?

 

[saveliberty]

Confidence of Wall Streeters maybe, the rest of us understand reality. No sale Mr. Broker.

 

[Avatar4321]

What exactly has caused people to gain confidence? Is it something sustainable or is it just another temp climb?

 

[Truthmatters]

Go get the numbers that show how many are working cleanup and how many have lost their jobs due to the Oil spill

 

[Oddball]

[ame=http://www.youtube.com/watch?v=yKwdRHovYok]YouTube - Archie Bunker Suicides[/ame]

 

[Tech_Esq]

Not sure about today, but I'm up 17.5% in the last 12 months. Beating the S&P. That makes me happy.

In a stroke of fortuitous timing, I missed the crash altogether and put everything back in at 8,000.

 

[topspin]

Actually Economist estimate Louisiana's GDP will go up as a result of the spill. Trueth is in Vegas not sure how the spill affected that economy much.

 

[boedicca]

What exactly has caused people to gain confidence? Is it something sustainable or is it just another temp climb?

It's the concentration of the economy into Public Mega Corps.

The stock market indices measure the market value of huge publicly traded companies - it's more about Wall Street than it is about Main St. What is happening in the small business sector is not reflected in these measures.

Of course Wall Street loves the current environment. New taxes and regulations are squashing small competitors. The Financial "Making Too Big Too Fail" Permanent Bill means Wall Street can rest assured that taxpayers will pick up the tab for their future mistakes.

Big Government Cronyism is celebrating at Main Street's continued expense.

 

[Truthmatters]

How many workers have lost their jobs due to the oil spill?

It effected every sector of employement in the effected area.

the lack of tourism alone killed many service jobs.