Skip to comments.Dow ends above 11,000 for first time in 18 months
Posted on 04/12/2010 2:02:15 PM PDT by NormsRevenge
NEW YORK The Dow Jones industrial average has closed above 11,000 for the first time in a year and a half on investors' rising hopes about the economy.
The Dow edged up about 9 points Monday to almost 11,006. The Standard & Poor's 500 index came within a point of hitting its own milestone of 1,200 during trading but closed just short of that mark.
A loan agreement for Greece allowed U.S. investors to focus on domestic economic and corporate news, including announcements of two big deals.
European leaders agreed over the weekend to make loans available to Greece to help the country lower its public debt burden. The 16 countries that use the euro agreed to provide $40.5 billion in loans to Greece if needed. The International Monetary Fund could contribute another $13.5 billion.
(Excerpt) Read more at news.yahoo.com ...
How soon before “The One” takes credit?
Eat my Shorts, y'know? LOL
Time to get out.
Or is this the impending mega-inflation hedge rally?
Buy low, sell high. Works every single time it is tried.
How soon before The One takes credit?
He’ll take credit today and when it crashes he’ll blame
Yes. In case you haven’t noticed precious metals are closing in on record highs. If this were a real recovery, metals would be down. By the time the world ends in 2012, gold will have topped $2000.
IIRC, he said that he didn’t follow the day to day fluctuations in the market. /s
Europe is borrowing the loan money from China, who bought the money from us, and we got the money from the stimulus package, which was borrowed from our treasury, which borrowed the money from CitiBank, which was bailed out by the TARP fund, which was borrowed from Europe.
Done on light volume after FASB changes allowing "mark to fantasy" in March 2009.
Watch the credit markets instead. They're still showing that our economy is in very bad shape, with reckless federal government spending being the only thing keeping us from realizing the depth of the depression that we're mired in.
People keep talking about inflation or hyper-inflation. They should be talking about major deflation and depression instead.
I would say cycles of both hyperinflation and deflation (even devaluing currency).
There is absolutely no evidence for any form of hyperinlation - and the dollar index has been strengthening over the past number of months.
Watch for the dollar index to move into the 90's - and possibly break 100 as this all plays out...highly deflationary.
The quiet rally before the back end of the huricane wall hits.....
The Plunge Protection Team is working overtime.
Does this mean the recession is over, and the stimulus, TARP, omnibus, Stimulus II (jobs bill) have saved us???? Yeah!!!! I can go back to sleep now with the rest of America!!! Man am I tired.....
I would, too. I see gas prices going up, but I also see house prices dropping due not to any strength in the dollar, but to lack of demand.
I also see a lot of empty office space around where I work. That can't be helping commercial real estate prices.
Hey Brad, good to see you here. I’ve been in withdrawals from your daily newsletter. I know you’ve been busy, but am looking forward to seeing your email in my inbox soon!! :)
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