Skip to comments.History Made: Dow Closes Above 16K for First Time
Posted on 11/21/2013 5:24:44 PM PST by SeekAndFind
The Dow rallied more than 100 points to close above the 16000 mark for the first in history amid optimism the Fed will keep its foot firmly on the economic accelerator.
The Dow Jones Industrial Average (DJI) rose 109 points, or 0.69%, to 16010, the S&P 500 (GSPC) advanced 14.5 points, or 0.81%, to 1796 and the Nasdaq Composite (IXIC) gained 47.9 points, or 1.2%, to 3969.
Wall Street has rallied in a big way this year. The Dow is up more than 22%, and has rallied 145% since its bear-market low in March 2009.
(Excerpt) Read more at foxbusiness.com ...
Yes, and the government printing presses are smoking.
BIG (banksters and international gangsters) is making out like bandits these days!
All I can say is if you own stocks in your brokerage account and they’re way up this year, protect yourselves by putting a trailing stop order.
Many people know how to buy but seldom do people sell ( until it is too late ).
= 30-40K auto prices. 40-50K trucks. Or chinese “box cars.”
>>BIG (banksters and international gangsters) is making out like bandits these days!
Yep. Workers are getting shafted and we’re supposed to celebrate an artificial stock market.
BTW, love the tagline! You are dead right. I wish that more FReepers understood that truth.
This is the biggest con of all time.
Dow Jones tracks stocks to come up with their average.
Let a stinker come along and poof, it is gone as fast as Enron.
And if the ‘official’ unemployment rises to 20% Bernanke can push it up to 20,000...
I’m waiting for the day Rush gets it.
No place else for money to go. The feds keep pumping funny money to the stock market. This is a much bigger bubble than the housing market and the crash will be absolute at this rate.
A crash is inevitable, but not necessarily imminent. It’ll be brutal....the low will be 50% off the high.
>>Im waiting for the day Rush gets it.
He never will (admit it). He’s a Republican who thinks that the stock market is an indicator of the nation’s financial health.
How much is 16K in 2008 dollars?
the more quanitative easing the higher it will go.
>>How much is 16K in 2008 dollars?
It’s $1367 in 1920 dollars.
And its $5650 in 1980 dollars.
And its $8900 in 1990 dollars.
More, faster! Forward the collapse! 20K DJIA, here we come! QE to Infinity, and Beyond!
Just like before Black Tuesday in 1929. I think this whole thing will come crashing down just like then.
Wow I never knew I was a BIG Bankster. I just thought it was a 401K
We should rejoice.
“This is the biggest con of all time. Dow Jones tracks stocks to come up with their average. Let a stinker come along and poof, it is gone as fast as Enron.”
Even worse, the best way for a company to drive up its stock is to cut loose American workers and replace them with foreign serfs. The stock market hasn’t been an indicator of the average American’s well-being in decades; now it is a better gauge of the health of Asia’s rising middle class rather than the health of our falling one.
1999 Carrera 4 Coupe: $70,480
1997 Turbo Coupe: $105,000
2013 Carrera 4 Coupe: $91,030
2013 Carrera Turbo: $137,500
2008 Cat food 3oz can: .31-.37
2013 Cat food 3oz can: .55-.60
The American Middle Class can support anything......for a while
Mayne WE should occupy wallstreet.
Mayne = Maybe.
I noticed the price of paper towels was sky-high too.
I would point out that Rush has observed the FED QE3 is being used to prop the market, though I would like to see the direct evidence, Rush had recited from a news article.
>>Mayne WE should occupy wallstreet.
WE should. Back when OWS first started, I agreed with them and thought that we should join with them. But, then a week later all the crazies on the Left came out and turned it into Grievance-apalaooza, and then real crazies came out and turned it into a sewer and rape-fest.
But for about one week, it was a very noble thing.
How far the dollar has fallen..................
“I wish that more FReepers understood that truth.”
That truth will never be tolerated on this site. It’s why I rarely come here anymore....a bit like living in the dark.
“Even worse, the best way for a company to drive up its stock is to cut loose American workers and replace them with foreign serfs.”
You nailed it.
Thanks; odd that these stories are still trumpeted as anything positive when anyone with eyes can see the deterioration around them. Here in NJ they’ve announced layoffs by pharmaceutical companies (which undoubtedly pushed the Dow higher); what the Hell are people “celebrating”? An increasing number of the shareholders themselves aren’t even American...
Rush is hitting the wall lately. I think he knows he has been used, and has been set aside.
China will no longer stockpile USD
I think in some ways you are correct but he still doesn’t really understand that the Pubbies are on the Dem’s side and have for a long time.
Those are the official figures, reality is far worse.
At Florence, South Carolina H.J. Heinz has announced plans to close the plant which opened in August 2011. That must be some kind of record, little more than two years from opening to the announcement of closing plans. The real economy is in terrible shape, the Dow means nothing.
“The real economy is in terrible shape, the Dow means nothing.”
The AMERICAN economy is in terrible shape, the Dow means the WORLD economy is making money (not that it is an indicator of the average person’s well-being).
Look at all the pretty bubbles.....