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Lasher

(29,560 posts) Thu Jul 11, 2013, 10:29 AM Jul 2013

Stocks Soar After Bernanke Comments; Dow Rallies Above All-Time Closing High [View all]

Source: CNBC

Stocks spiked sharply across the board Thursday, with the Dow and S&P 500 crossing above their record closing highs, after Fed Chairman Ben Bernanke emphasized the central bank intends to keep its stimulus measures for the foreseeable future.

The Dow Jones Industrial Average surged nearly 150 points, rallying above its all-time closing high of 15,409.39. All 30 components traded in positive territory, boosted by Caterpillar and Disney.

The blue-chip index's point gain for 2013 is already greater than any year on record.

The S&P 500 was higher for a sixth-consecutive session, briefly crossing above its record closing level of 1,669.16. The S&P 500 is now on pace for its biggest weekly gain since January.

Read more: http://www.cnbc.com/id/100879524?__source=yahoo

This is what Republicans dread: Economic recovery during the Obama administration. The stock market is not the economy, but it is a highly visible leading indicator.

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Stocks Soar After Bernanke Comments; Dow Rallies Above All-Time Closing High [View all] Lasher Jul 2013 OP

Yes, low interest for banks and high interest for student loans. Whatta country! sinkingfeeling Jul 2013 #1

I was thinking DU could stand some good news for a change. Lasher Jul 2013 #3

^ THIS ^ mac56 Jul 2013 #6

Yep, and are surprised by something most people knew was happening for decades. we can do it Jul 2013 #22

All good news must be refuted. JoePhilly Jul 2013 #10

Sheesh Lasher Jul 2013 #28

Exactly. JoePhilly Jul 2013 #29

Now we learn of a $117 Billion June surplus Lasher Jul 2013 #43

I would think by now you would realize that ... GeorgeGist Jul 2013 #2

The last figure I was from Barrons was that 10% of the population woned 90% of the stock. byeya Jul 2013 #15

The top 10% owns about 80% of stock market wealth Lasher Jul 2013 #18

Bernanke is doing a great job for the banks and crooks!.... dmosh42 Jul 2013 #4

Maybe your retirement money shouldn't be in banks making almost no interest. Lasher Jul 2013 #14

As to investments, I'm glad you feel the corporations are trustworthy, but beware! dmosh42 Jul 2013 #25

Interest rate suppression by the FED hurts retirees depending on a stream of income to byeya Jul 2013 #16

There's usually a spread between bank interest and mortgage interest. Igel Jul 2013 #20

Seems to me banks must be buying congressmen to vote for increased student loan rates wordpix Jul 2013 #23

please explain.... Roy Rolling Jul 2013 #5

Profits up, wages down KansDem Jul 2013 #7

Yes, income inequality has long been a major concern for me. Lasher Jul 2013 #9

Good sign for whom? KansDem Jul 2013 #12

A good sign for most of us, taking stock market gains alone into account. Lasher Jul 2013 #17

And yet the income gap widens as the markets grow NickB79 Jul 2013 #24

Yeah, but 67% had stock market investments in 2002 KansDem Jul 2013 #30

OK, I surrender. Stock market gains are incredibly bad! Lasher Jul 2013 #31

I agree. Bread lines are abhorable... KansDem Jul 2013 #32

There are many more millions on breadlines now than then. Except we call them EBTs these days. Psephos Jul 2013 #38

It's the "wealth effect" tularetom Jul 2013 #8

Also has direct positive effect on millions of 401k accounts. JoePhilly Jul 2013 #11

So all this proves Lee-Lee Jul 2013 #13

Thanks. Scurrilous Jul 2013 #19

Bub. Igel Jul 2013 #21

Well this will mean another offer to lower my interest rate upaloopa Jul 2013 #26

Now if only those wealthy bastards will invest that money back in the country. MrSlayer Jul 2013 #27

Hooray, but how about the price of gas that, really, affects the shrinking middle class and demosincebirth Jul 2013 #33

The best thing to depress the price of gas is a world recession, I'm afraid muriel_volestrangler Jul 2013 #34

What do you tell a guy who make 15 bucks an hour and comutes 40 miles a day...ride a bike? demosincebirth Jul 2013 #37

It's a message for the entire world muriel_volestrangler Jul 2013 #42

You know, you can probably write a sad Country Western song and make millions demosincebirth Jul 2013 #44

It is interesting..... dtom67 Jul 2013 #35

This isn't a sign of "economic recovery." It's just a promise to keep the stock market bubblizing. PSPS Jul 2013 #36

this n/t Psephos Jul 2013 #39

^This^ Celefin Jul 2013 #40

Was it 2 weeks ago when economy was so super-duper that Fed signaled tapering.... NoOneMan Jul 2013 #41

All the FED has is monetary policy and QE is creating an asset bubble. The Repubies byeya Jul 2013 #45