Stocks soar: Dow climbs 206

[Truthseeker420]

EW YORK (AP) — The stock market staged a huge rally Thursday after investors got the aggressive economic help they wanted from the Federal Reserve.
The Dow Jones industrial average spiked more than 200 points and cleared 13,500 for the first time since the beginning of the Great Recession. The average is within 625 points of its all-time high.
The Fed said it would buy $40 billion of mortgage securities a month until the economy improves. It left open the possibilities of buying other assets and of buying long after the recovery picks up.
The central bank also extended its pledge of super-low short-term interest rates into 2015, and extended a program to drive down long-term rates.
It was the package known as QE3 — a third round of quantitative easing, in market-speak. And it was just what investors were hoping for.
"They're saying that the punch bowl, the fuel for the economy, isn't going away — it's going to be here as long as you need it," said Tony Fratto, a former aide to President George W. Bush and managing partner at Hamilton Place Strategies, a policy consulting firm in Washington.
The Dow closed up 206.51 points, the seventh-biggest gain this year, at 13,539.86, its highest close since the last days of December 2007, the first month of the recession.
The broader Standard & Poor's 500 index was up 23.43 points at 1,459.99, also its highest since December 2007. The Nasdaq composite index, which has been trading at its highest levels since 2000, was up 41.52 at 3,155.83.

The Associated Press: The Fed steps in, and stocks soar: Dow climbs 206

 

[thereisnospoon]

EW YORK (AP) — The stock market staged a huge rally Thursday after investors got the aggressive economic help they wanted from the Federal Reserve.
The Dow Jones industrial average spiked more than 200 points and cleared 13,500 for the first time since the beginning of the Great Recession. The average is within 625 points of its all-time high.
The Fed said it would buy $40 billion of mortgage securities a month until the economy improves. It left open the possibilities of buying other assets and of buying long after the recovery picks up.
The central bank also extended its pledge of super-low short-term interest rates into 2015, and extended a program to drive down long-term rates.
It was the package known as QE3 — a third round of quantitative easing, in market-speak. And it was just what investors were hoping for.
"They're saying that the punch bowl, the fuel for the economy, isn't going away — it's going to be here as long as you need it," said Tony Fratto, a former aide to President George W. Bush and managing partner at Hamilton Place Strategies, a policy consulting firm in Washington.
The Dow closed up 206.51 points, the seventh-biggest gain this year, at 13,539.86, its highest close since the last days of December 2007, the first month of the recession.
The broader Standard & Poor's 500 index was up 23.43 points at 1,459.99, also its highest since December 2007. The Nasdaq composite index, which has been trading at its highest levels since 2000, was up 41.52 at 3,155.83.

The Associated Press: The Fed steps in, and stocks soar: Dow climbs 206

It's temporary. Once the currency markets bomb the Dollar( this occurred with QE I and II) the party is over.
A reasonably intelligent person knows this latest scheme is crap.

 

[GreatDay]

Love'em or hate'em the Democrats are damn good for the market.

 

[rightwinger]

Love'em or hate'em the Democrats are damn good for the market.

Doubled the market in four years

 

[Stephanie]

ooooooooooooooooooo, SOARS

too bad it isn't helping them in the 8 to 9% unempolyment..or that 4 dollars for a gallon of gas, or almost 5 dollars for a gallon of milk

 

[JWBooth]

Completely unrelated to Bernanke dumping tons of fresh monopoly money into the system of course.

 

[Oddball]

Love'em or hate'em the Democrats are damn good for the market.

Yeah...Just ignore the $4.00/gal gasoline and $1,700/oz gold.

 

[Warrior102]

What does the NYSE have to do with Domocraps?

Christ, if they had their fingers in it (thank God they don't) - it would be as fucked-up as everything else they touch.

 

[PredFan]

It's a sugar high, just wait until the crash comes.

 

[PredFan]

It's predictable that the lefties would try to take credit for an artificial and temporary propping up of the economy by the Fed.

 

[expat_panama]

...it isn't helping them in the 8 to 9% unempolyment..or that 4 dollars for a gallon of gas, or almost 5 dollars for a gallon of milk

...Democrats are damn good for the market.

--and don't forget the third point that Republicans are only good for Wall St. and the Democrats are the party for Main St.



Some how I keep hearing those three points and rarely does anyone point out the contradiction there.

 

[Dont Taz Me Bro]

Love'em or hate'em the Democrats are damn good for the market.

So what you're saying is they are the party of Wall Street fat cats?

 

[JWBooth]

Love'em or hate'em the Democrats are damn good for the market.

So what you're saying is they are the party of Wall Street fat cats?

That's my read.

 

[iamwhatiseem]

Well...if someone gave you $700 Billion.....then $400 Billion....then $40 Billion every month...all inside of three years...
YOU WOULD DO PRETTY FUCKING GOOD TOO!!

 

[oldfart]

Love'em or hate'em the Democrats are damn good for the market.

So what you're saying is they are the party of Wall Street fat cats?

No, just that the last seventy years demonstrate that sound macroeconomic principles (not the kind found in Republican CrackerJack boxes) tend to be good for all economic classes, including those heavily invested in the stock market.

 

[Truthmatters]

guess what if you claim this is not on the Bernake news then you have to settle for the fact that it is caused by the German scotus telling the world they will act to back the failing economies in europe.


either way your ideas have been proven false you dumb cons

 

[Truthmatters]

this is what happnes to a party when they just back a flase narrative to try and win an election.

The internets dont allow your party to lie with empunity anymore.

You get caught in every lie.

lately lies are all your party has been relying on.

 

[JWBooth]

this is what happnes to a party when they just back a flase narrative to try and win an election.

The internets dont allow your party to lie with empunity anymore.

You get caught in every lie.

lately lies are all your party has been relying on.

By golly you are hilarious.

 

[Mad Scientist]

guess what if you claim this is not on the Bernake news then you have to settle for the fact that it is caused by the German scotus telling the world they will act to back the failing economies in europe.


either way your ideas have been proven false you dumb cons

Wait a minute, Germany has a Supreme Court in the US? When did this happen?

 

[Truthmatters]

and you have nothing to do to restore your partys false narrative into the realm of reality.

the American people now have your number and they aint calling back