Posted on 04/20/2007 1:48:35 PM PDT by Signalman
NEW YORK (CNNMoney.com) -- The Dow industrials rallied to a record close Friday afternoon, finishing at a new high for the third consecutive day, after a slew of upbeat earnings reports that also drove the broader market higher.
The Dow Jones industrial average (up 136.85 to 12,945.48, Charts) jumped 153.35, or 1.2 percent, to 12,961.98, setting intraday and closing highs, according to early tallies. The Dow finished the week up about 2.8 percent higher.
The broader S&P 500 (up 11.88 to 1,482.61, Charts) index also added about 1 percent and hit a fresh 6-1/2-year high. The Nasdaq (Charts) composite gained roughly 0.8 percent and hit a fresh 6-year high. The S&P gained about 2.2 percent for the week, and the Nasdaq rose about 1.4 percent.
Oil jumped nearly $2, the dollar gained on the euro and yen, and bonds held steady.
Here's what moved the markets Friday: Buyouts help drive market rally
The Dow closed at a record Thursday despite a mixed broader market. But the tone was much more positive Friday, as all three major gauges spiked after solid earnings from Google, American Express, Caterpillar and others.
Beyond the earnings, the advance marked a broader recovery for Wall Street from the big late February selloff, when slumping Shanghai markets triggered a global stock decline on worries about growth. On that day, the Dow slumped 416 points - its biggest one-day loss since the day the markets reopened after the Sept. 11 attacks.
(Excerpt) Read more at money.cnn.com ...
What’s the average PE ratio at the close today?
WE’RE ALL GONNA DIE!!!!
Michigan and Pennsylvania polls say by 72% that we are in the worst economy of our lifetime. What in the heck is in the water in those two States?
LLS
My IRA/401K jumps again....damn that Bush!
Bush’s fault.
In Michigan, the auto industry is collapsing. PA is part of the rust belt.
Back in year 2000 under Clinton, my retirement fund lost almost 2/3rds of it's value. I had a substantial amount of money invested. Under Bush, my fund recovered all it's losses and tripled in value. All Bush's fault!
I do not believe anything printed in the media (I find independent verification of all written propaganda). The media is dim controlled and are liars by definition.
LLS
When you elect satanic dims and worship at the union hall... these things happen!
LLS
So what “independent” sources do you go to debunk this report?
The MSM is promoting FAILURE! DISASTER! GLOOM DOOM DISPAIR & MISERY!!!!!!
(Until Mrs Clinton is crowned. Then, suddenly and miracluously, eveything will be wonderful.)
I don’t know yet. I have not had time to search it out. Local newspapers and editorial pages... people who live and work there etc. I really do not care enough to expend the energy today... but you must admit that is is very hard for a thinking American to trust something just because it is in print. Not any longer.
LLS
“When your neighbor has lost his job it is a recession, if you lose your job it is a depression.” - Ronald Reagan
When these people and many of theirs friends and family are out of work or real worried about their job it is a bad economy. And high stock prices do not do a thing for them. In 2006 the republicans shouted stock prices from the roof tops and it fell on deaf ears.
Check out the National Employment figures. Where are all of these people out of work. Is it regional? Move if it is. I can tell you that the Mississippi Coast has a huge deficit in good workers. There are not enough people to fill the jobs.
LLS
You and I know it... but some Conservatives on FR still believe in the media. cronkite proved to me that NO MEDIA peronality in America can be trusted. Not even Brit Hume (completely).
LLS
In 2006 instead of changing their addresses they changed the party they voted for.
“What in the heck is in the water in those two States?”
As for Michigan, the communist governor Granholm is in the water, along with 57% of the useful idiots who voted her back into the governor’s chair after posting the highest unemployment numbers in the nation.
Expect no details in the 6:30 news...or the 10 o’clock news.
“In 2006 instead of changing their addresses they changed the party they voted for.”
The decline in their States will continue at an accelerated pace, with the communist party in office.
LLS
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