DOW CROSSES THE 12,000 MARK!

  • HndsmKansan

    Posts: 16311

    Jan 26, 2011 4:00 PM GMT
    Glad to see the improvements!

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    NEW YORK (CNNMoney) -- The Dow crossed the 12,000 mark for the first time since June 2008 as U.S. stocks nudged higher Wednesday.

    Investors were parsing through the latest corporate results and awaiting the Federal Reserve's latest pronouncement on the nation's economy.

    85Email Print The Dow Jones industrial average (INDU) rose 30 points, or 0.3%, hitting its highest intraday level since June 20, 2008.

    Home Depot (HD, Fortune 500), DuPont (DD, Fortune 500) and Alcoa (AA, Fortune 500) led the Dow higher, while Boeing (BA, Fortune 500) was the biggest decliner. The aerospace and defense giant's revenue and outlook disappointed -- pushing shares of the company down 3.8%.

    The S&P 500 (SPX) added 5 points, or 0.4%, and the Nasdaq (COMP) gained 16 points, or 0.6%.

    Stocks have been on a tear in recent weeks, with the Dow approaching the 12,000 mark -- a level last seen in June 2008. On Tuesday, stocks closed mixed after staging a late comeback.

    "Stocks continue to rally, even on days where it looks like we're going to finish down -- the market seems to will itself to flat or positive on days when it shouldn't," said Mark Luschini, chief investment strategist at Janney Montgomery Scott.

    While stocks may continue their run-up in the next couple weeks, the market is due for a correction, he added.

    "Earnings reports are driving investors' attitudes at the moment, and we have sort of an uneven reporting season," he said. "On balance they're not bad, but they're not as good as we had been seeing. So I think we're susceptible to an entrenchment in equity prices, even if it's because we're meeting expectations rather than beating them."

    Optimism sparked from President Obama's State of the Union address late Tuesday may also help push stocks higher.
  • CuriousJockAZ

    Posts: 19133

    Jan 26, 2011 4:04 PM GMT
    See, there is reason to be optimistic -- things are looking better in the real estate market, at least here in Phoenix
  • rnch

    Posts: 11524

    Jan 26, 2011 4:14 PM GMT
    yayyyyy!!!! raise my 401-K so i can take early retirement!!

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  • Posted by a hidden member.
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    Jan 26, 2011 5:30 PM GMT
    SOTUWe are poised for progress. Two years after the worst recession most of us have ever known, the stock market has come roaring back. Corporate profits are up. The economy is growing again.

    But we have never measured progress by these yardsticks alone. We measure progress by the success of our people. By the jobs they can find and the quality of life those jobs offer.
  • Posted by a hidden member.
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    Jan 26, 2011 5:40 PM GMT
    Bush Recession.

    Obama Recovery.

    Thank you, Mr. President!
  • rnch

    Posts: 11524

    Jan 26, 2011 5:49 PM GMT
    OtterJoq saidBush Recession.

    Obama Recovery.

    Thank you, Mr. President!


    wondering how SB will "spin" this.... icon_lol.gif
  • Posted by a hidden member.
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    Jan 26, 2011 5:59 PM GMT
    rnch said
    OtterJoq saidBush Recession.

    Obama Recovery.

    Thank you, Mr. President!


    wondering how SB will "spin" this.... icon_lol.gif


    Who the fuck cares what (or if) SB thinks? I've had him on "ignore" for many months now, and RJ is a much cleaner-smelling site because of it.
  • Posted by a hidden member.
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    Jan 26, 2011 6:10 PM GMT
    q1w2e3 said
    SOTUWe are poised for progress. Two years after the worst recession most of us have ever known, the stock market has come roaring back. Corporate profits are up. The economy is growing again.

    But we have never measured progress by these yardsticks alone. We measure progress by the success of our people. By the jobs they can find and the quality of life those jobs offer.




    This has been a jobless recovery to large degree, and wallstreet while a sign of progress is not translating into much progress on main street. Too many of these Corps have taken their work overseas so while they're doing good, back home Main street keeps suffering.

    This has got to turn into work at home, congress needs to repeal all those worthless subsidies to these Corps, and invest that money here at home so the job market will turn around.
  • rioriz

    Posts: 1056

    Jan 26, 2011 6:14 PM GMT
    realifedad said
    q1w2e3 said
    SOTUWe are poised for progress. Two years after the worst recession most of us have ever known, the stock market has come roaring back. Corporate profits are up. The economy is growing again.

    But we have never measured progress by these yardsticks alone. We measure progress by the success of our people. By the jobs they can find and the quality of life those jobs offer.




    This has been a jobless recovery to large degree, and wallstreet while a sign of progress is not translating into much progress on main street. Too many of these Corps have taken their work overseas so while they're doing good, back home Main street keeps suffering.

    This has got to turn into work at home, congress needs to repeal all those worthless subsidies to these Corps, and invest that money here at home so the job market will turn around.


    Agreed!
  • Posted by a hidden member.
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    Jan 26, 2011 6:15 PM GMT
    OtterJoq saidBush Recession.

    Obama Recovery.

    Thank you, Mr. President!

    Yeah, tragic this Obama recovery came too late for the 2010 election. Delayed on purpose by the Republicans in Congress, despite the harm it caused to the American people, but for the election benefits to the Republican Party. Let's not forget that.