Skip to comments.High Times for Blue-Chip Stocks (3 1/2 year high)
Posted on 12/21/2004 2:19:13 PM PST by zencat
Stocks closed sharply higher Tuesday with the S&P 500 regaining the 1200 level while an upgrade of Intel helped lift the Dow to a new 2004 high.
The Dow Jones Industrial Average added 100 points, or 0.9%, to 10,762, passing its previous 2004 closing high of 10,737 touched in February and the best close since June 2001. The S&P 500 climbed 11 points, or 0.9%, to 1205 -- just shy of its recent 40-month high -- while the Nasdaq added 23 points, or 1.1%, to 2150. The 10-year Treasury note was recently up 2/32 to yield 4.17%, while the dollar rose against the yen and euro.
(Excerpt) Read more at thestreet.com ...
I think 12,000 by the end of next year is not entirely out of the relm of possiblilities. If things in Iraq should stabilize by next summer, and oil prices drop sharply, I see a very good third and fourth quarter '05.
The MSN homepage shows the S&P dropping 869 points.
It's Bush's fault, it always is. (sarcasm)
So do a lot of other sites. Got any idea why this is? This can't possibly be true, can it?
It is not true.
I don't think it is true. But still, FOX, Vanguard, etc. They all show this. I wonder why!
President Bush has to take the blame for this, in particular his 'risky' tax cut scheme.
"S&P 324.66 -869.99 "
bodies on Wall St.
"I don't think it is true. But still, FOX, Vanguard, etc. They all show this. I wonder why!"
Probably because their feeds are all from the exchange where it is incorrect.
All these sites get their information from the same DOW service. Someone screwed at the source, that's all. Pretty dramatic to look at though. My stomach dropped after I saw the same numbers at so many otherwise reliable sites.
A certain sign of market hysteria is when Freepers brag about how Bush (or Reagan in 1987) has driven up the prices of stocks. Does the present market atmosphere remind you more of 1929, 1987, or March 2000?
None of the above. In those instances you couldn't find ANY naysayers like you and the market reached new plateaus. There are plenty of bears around now and the broad markets are not even close to previous highs. Sorry you cashed in. I'm ridin' this horse for all she's worth. Heeeyahh!
"After receiving market tips from a cab driver and a waitress recently"
Oh gee, how more stereotypical can you get?
What? The shoeshine boy was selling derivatives?
It was foreseeable and clear that once the Kerry and elite media promoted recessionary campaign rhetoric fades the market will look forward again.
Without being daily told of pending economic disasters clear thinking regained the upper hand.
The market was undervalued based on fear of unemployment, inflation, interest rates, outsourcing, plant closings, losing out to the Asians, Europeans etc.
Has anybody heard about a retraction by the MSM elites of having erroneously condemned tax cuts, or better given credit for job creations?
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