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The Dow Closes Above 13,000 on Earnings Data »
Posted by: TechnologyExpert 2 years, 6 months agoThe stock market's best-known indicator surged past its latest milestone shortly after trading began Wednesday, and even made it past 13,100, rising as high as 13,107.45. According to preliminary calculations, it closed at 13,087.46 up 133.52 or 1.03 percent.
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TechnologyExpert
I am Editor-in-Chief at Alice Hill's RealTechNews (http://www.realtechnews.com). I also have my own blog (Tech-Ex) at http://TechnologyExpert.Blogspot.com. Finally ...
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Comments: 162
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lycase
April 25, 2007, 6 p.m.no no no they're gonna say that the new democratic congress worked to achieve these earnings and that this is more reason to vote for clinton/obama in 08
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engineer
April 25, 2007, 9:09 p.m.Check at Leo Wanta and you will find this is a manipulated market. It is good for the wealthy who have more investments. The average American no. Remember that high profits are being made at the expense of outsourcing our jobs. so much for the Dow Jones
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deathray
April 25, 2007, 10:23 p.m.The Dow Jones Industrial Average is an index of 30 companies listed on the NYSE. They are the stocks of the most widely held companies, and are not necessarily an accurate reflection of the health of the economy...It's a price weighted index. I personally have a preference for float-adjusted market-valued indexes like the Wilshire 5000 as a metric for the general health of the market.
Of course, the case for high valuation is the amazing corporate earnings due to globalization and a reduction of taxation rates on foreign revenues from 35% to 5.6%. Additionally, because of high corporate profits, these corporations are very cash rich.
It's disingenuous (and incortrect) to tout the DJIA as a real indication of the general health of the economy...which, in fact, is slowing.
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mark-stevens
April 26, 2007, 1:59 a.m.The stock market says how the rich are doing. Many stocks have gone up with major lay offs such as out sourcing.
Are you doing better at $3.50 for a gallon of gas. The energy stocks are up, enough to give the retiring CEO of Exxon, four hundred million dollars. Is your 401 plan looking that good??
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tiredofwhiners
April 26, 2007, 8 a.m.No matter what, stocks up, stocks down, economy up, economy down, the libs will only look at the negatives. If up, it's bad and not Bush's doing, if down it's his fault.
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quackpot
April 25, 2007, 6:02 p.m.Happening on the backs of the National Debt that our children and grand children will be paying.
You are SICK to cheer for luxury for the rich that is borrowed from our children.
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quackpot
April 25, 2007, 6:08 p.m.--Debt as a percentage of GDP (numbers from OMB):
33% after Carter's administreation
66% After Regan's & Bush's administration (doubled)
58% After Clinton's administration (decreased)
72% After Bush's administration (estimate; post WWII high)
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NelsonR
April 25, 2007, 6:37 p.m.You have got to laugh at the rhetoric of these conservatives who fail to see reality. The rich are becoming richer while the average conservative, Follower, on this blog has not benefitted, but regressed. Naturally, when you outsource to foreign land American jobs, you have less cost, the bottom line is larger. It does not neccessitate a degree in economics to see what is.
Really, how many of you conservatives, many with unsold houses, can truely say they are better off under the Bush economic program that benefits the rich? The Voodoo economic's under the Bush Administration will come back to haunt each and every one of us in the future, yet you adore his false, mirage economic policy. I feel sorry for you if you a true believer of his agenda. Like Iraq, its all a sham perpetrated on America with the average illiterate conservative accepting all to Americas detriment. Remember this post when you go to work on a tricycle if you still have a job that an alien has taken.
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maninthemiddle
April 25, 2007, 7:14 p.m.I benefited. I benefited much more during the gains of the 90's. I also voted Democratic. I'll continue to vote Democratic. Hoover, Reagan, Bush they're all Republicans, and saw markets suffer. I'll stick with the Democrats.
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aceofspades1
April 25, 2007, 8:54 p.m.I hope all of you made lots of $$ today because you're going to have to leave it for your children & grandchildren just so that they can survive with the legacy of debt that they wi;; be burdened with..
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bacalaoyplatano
April 25, 2007, 9 p.m.I have a question: If you were given the opportunity to come to the US from a very poor country and you find yourself making money that would have been impossible to earn legally in your native land, would you care about the national debt?
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bacalaoyplatano
April 25, 2007, 9:19 p.m.What attitude? There are people in this country that refuse to help their kids with college tuition yet they worry about a debt tht their grandchildren might have to pay!!
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aceofspades1
April 25, 2007, 9:25 p.m.baca - your specious statements don't deserve an answer - not even this one
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Macondo
April 25, 2007, 9:35 p.m.At this very moment I am overseas and have been out of the US for 2 weeks.
While I go to exchange my Dollar for local currencies I obtain less for my Dollar with declination of the official value of Dollar almost twice a week.
If adjusting the Dow Jones for Dollar devaluation in the last 6 months, what is the real value of the thousand points "increment".
I do not have clear idea, but will appreciate the opinion of a non political expert.
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Macondo
April 25, 2007, 10:30 p.m.Out of curiosity:
Dollar value of Euros 6 months ago, equivalent value today ?
Is the Dow Jones adjusted in relation to the real Dollar worth at any moment?
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NoWayMan
April 26, 2007, 3:41 a.m.cons are claiming that this new record high for the DOW is a victory for Bush's economic policies.
but if thats true, that means that Clinton's economic policies were truly amazing since during his tenure we broke the record high for the DOW 50 times.
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Natureboy
April 26, 2007, 8:52 a.m.The majority of Americans have seen their real incomes stagnate for the last 30 years. Should I celebrate because some Wall Street fat cats are now slightly fatter? I don't.
If you are working class as I am you should be aware of the concerns of your class and not rejoice at the further enrichment of the already rich as if it were your own good fortune.
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canadianrancher57
April 26, 2007, 9:03 a.m.Todays people have more little toys to purchase and then they complain about being poor, some families have a cell phone for everyone and then complain about cell phone bills. I read latley that the average teen goes through about 7800 dollars a year. Heard this morning that interest rates might be coming down, so the government is putting more money into the economy, this might cause inflation, but inflation can make it easier to pay off debt if wages do go up and foolish spending is curtailed.
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tiredofwhiners
April 26, 2007, 9:57 a.m.I like the comment about all the toys we have today that suck away our dollars. Its all relative. 50 years ago my family was considered middle to higher income. I entered college in 1956 and spent all my money to educate myself. I didn't have a car of my own and there were no cell phones, computers, internet, hand calculators, color or HD TV, video cameras, advanced medical technology, etc. etc. How did people survive then? If we had to buy all that stuff then, we would have been at the poverty level by today's standards (meaning our income was insufficient to cover all those expenses). I picked fruit and vegetables, hoed (in the garden), weeded, helped Dad in his painting business, made a wood fire to heat the water and on and on. Today, some of those chores are considered ancient and only for the poor or not considered at all. Not having the toys of today would make me poverty stricken then. And hey, one of those years in the 50's there was a budget surplus. What's with that?
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tiredofwhiners
April 26, 2007, 10:08 a.m.I don't care what some say about the negatives of a high stock market. Everyone benefits all the way down to the guy selling flowers at the freeway exit and the beggar on the street. The high market and low unemployment can be attributed to whoever or whatever you want. For sure though, lower taxes help. Its a basic law of economics, unless you think all govt. spending is a big plus. I'm amazed at all the sour grapes comments about the DJIA and all the other indexes being at at high level. I wonder what would be said if it was at a modern era low?
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