High Times for Blue-Chip Stocks (3 1/2 year high)

TheStreet.com ^ | 12/21/2004 | Robert Holmes

[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.

[zencat]

The Democrats may have to change their message from: "It's the worst economy ever" to "It's the new decade of greed."

[phoenix0468]

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.

[KJacob]

The MSN homepage shows the S&P dropping 869 points.

[stm]

It's Bush's fault, it always is. (sarcasm)

[rogue yam]

So do a lot of other sites. Got any idea why this is? This can't possibly be true, can it?

[KJacob]

It is not true.

[rogue yam]

I don't think it is true. But still, FOX, Vanguard, etc. They all show this. I wonder why!

[zencat]

President Bush has to take the blame for this, in particular his 'risky' tax cut scheme.

[krunkygirl]

save

[dakine]

"S&P 324.66 -869.99 "


bodies on Wall St.

hahaha...

[zencat]

"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.

[fire and forget]

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.

[MurryMom]

When the ruling elite zaps the market with steroids, as in the present deficit driven boom, it's time to take profits. After receiving market tips from a cab driver and a waitress recently, I've cashed in AA (at 34.55), WB, CHK, and EP and invested my money in tax free munis.

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?

[Rightone]

no.

[groanup]

"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!

[Cobra64]

Go here:

http://bigcharts.marketwatch.com/markets/indexes.asp

[Cobra64]

Go here:

http://bigcharts.marketwatch.com/markets/indexes.asp

[dakine]

"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?

[Mase]

"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?"

____________________________________________________________

No. The reason stock values are rising is that there are more buyers than sellers now because earnings and yields are very strong. Additionally, the Fed has indicated they are going to continue to raise rates which will keep inflation in check. This will also serve to keep investors buying dollars which will keep Americans consuming resulting in increased earnings and yields for investors.

Has nothing to do with ruling elites, steroids or a deficit that, as a % of GDP, is less than during Reagan. It's ashame you cashed in so early. You left a lot of money on the table.

[hermgem]

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?