Posted on 05/02/2007 2:51:11 PM PDT by RWR8189
NEW YORK (CNNMoney.com) -- The Dow rallied to yet another record high Wednesday, capping its longest winning stretch in nearly 52 years, on robust earnings news, a $10.6 billion deal for Cablevision and a strong reading from the manufacturing sector.
The Dow Jones industrial average (up 75.74 to 13,211.88, Charts) rose nearly 0.6 percent to close at an all-time high for the fifth time in the last six sessions. The Dow also hit an intraday high of 13,256.33 during the session.
The blue-chip indicator has now risen in 21 of the last 24 sessions - the best streak since the summer of 1955. Back then, the 30-share Dow climbed about 10 percent over 25 sessions while it's up about 7.5 percent in the recent run.
The tech-heavy Nasdaq composite (up 26.31 to 2,557.84, Charts) gained over 1 percent and the broader S&P 500 (up 9.62 to 1,495.92, Charts) index rose more than 0.6 percent.
Oil settled down 72 cents to $63.68 a barrel, while gold prices eased $2.20 to $675.10 an ounce on the COMEX division of the New York Mercantile Exchange.
Treasury prices edged lower, leaving the yield on the 10-year note at 4.64 percent. In currency trading the dollar gained against the euro and the yen.
Here's what was moving before the close:
(Excerpt) Read more at money.cnn.com ...
I’m just sitting here watching the retirement fund grow.
WE’RE ALL GONNA DIE!!!! no wait..wrong thread...
I always get from history that during his presidency it was doom and gloom.
It’s Bush’s fault.
But, but, the defeatocrats say the economy is in the toilet> /s
Someone from CNN actually wrote this headline?! . . . Is hell freezing over — oops, I forgot, that would be impossible given our current problems with ‘global’ warming (gag)!
It was all beer and skittles until October of 1929. Then it was awful, so my parents say.
Howlin’s fault
The liberals cannot say that Clinton’s economy was the strongest. This is happening after the .com crash, 911, Enron (etc). This does rock!
Yeah!
There are still people out there that don't have a job and can't retire at 40.
We need to raise taxes and redistribute the wealth so we ALL suffer until every last person in America and Mexico are comfortably rich. /s
Yes they can and they do.
They just have to lie in doing so!
I feel their pain now that we have the worst economy since Herbert Hoover. /s
Well this had nothing at all to do with President Bush and his policies.
Must have been the cut an run attitude of the dems.
Or maybe John Edwards spiffy looks or Mrs. Clinton and her lesbian supporters, or Obama Heusseins charisma, Yeah that’s it Charisma.
B.S.
Actually, it was all near beer and skittles...Prohibition was still on.
Somewhere in the Other America, John Edwards is hugging a freezing, starving coatless child, and they are both crying.
Willie Green’s fault
“MINORITIES AND WOMEN HIT HARDEST”
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