[GraceG]

I heard somewhere that 17K was brown shorts time....

[SeekAndFind]

Not just the Dow, but the S&P 500 as well.

See here:

http://www.reuters.com/article/2014/07/01/us-markets-stocks-idUSKBN0F119U20140701

Dow, S&P end at records, starting July with a bang

EXCERPT:

U.S. stocks rallied on Tuesday, with both the Dow and S&P 500 setting record closing highs on the first trading day in July as manufacturing activity picked up in the United States and Asia, increasing optimism about the global economy’s health.

[MrB]

[Iron Munro]

In the O’conomy, every rise in the DOW reflects a corresponding devaluation of the dollar.

[dadfly]

1929 here we come again.

[I want the USA back]

If the number is not adjusted for inflation it’s meaningless.

[proxy_user]

Thanks, Helicopter Ben!

[2ndDivisionVet]

[voicereason]

Interesting, but the castle walls have to topple at some point. And given the premises, and lack of fundamental information this market is built on, it’s shaky ground.

Manufacturing index unexpectedly dips in June
Http://www.usatoday.com/story/money/business/2014/07/01/manufacturing-activity-june/11890517/

From the ISM report (http://www.ism.ws/ismreport/mfgrob.cfm):

“New Orders, Employment and Production Growing
Inventories Growing
Supplier Deliveries Slowing”

If inventories are growing two things are taking place, overproduction which is creating more than the market needs; or overproduction to try and financially game the business because inventory is viewed as an asset.

This is especially troubling if inventories are growing while supplier deliveries are slowing. It takes materials to produce, so without materials, how can one generate inventory.