Dow looking great!
miller8966
Posts: 1,450
NEW YORK — Stocks opened higher Thursday as big consumer names like McDonald's Corp. (MCD) and PepsiCo Inc. (PEP) gave investors hope that earnings would be strong despite a slowing economy.
In the first hour of trading, the Dow Jones industrial average was up 44.02, or 0.37 percent, at 11,896.15.
Broader stock indicators were also higher. The Standard & Poor's 500 index was up 5.03, or 0.37 percent, at 1,354.98, and the Nasdaq composite index advanced 14.39, or 0.62 percent, to 2,322.66.
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Though the markets appeared more upbeat than on Wednesday, which saw a lackluster start to earnings season, there was still concern about the economy's health.
The Commerce Department reported that the country's trade deficit rose to a record high in August. A separate report showed that the number of newly laid off workers seeking unemployment benefits grew by 4,000 last week to a seasonally adjusted total of 308,000. Unemployment remains low, however.
Investors were also awaiting the release, set for later Thursday, of the Federal Reserve's Beige Book, which summarizes regional economic activity.
McDonald's said systemwide same-store sales, or sales at stores open at least a year, rose 9.8 percent in September. The world's largest fast-food chain also said its third-quarter profit would top Wall Street's expectation.
PepsiCo posted a 71 percent increase in its third-quarter profit. The snack food and soft drink maker said sales rose 9 percent from the year-ago period, which was hurt by a tax charge
In the first hour of trading, the Dow Jones industrial average was up 44.02, or 0.37 percent, at 11,896.15.
Broader stock indicators were also higher. The Standard & Poor's 500 index was up 5.03, or 0.37 percent, at 1,354.98, and the Nasdaq composite index advanced 14.39, or 0.62 percent, to 2,322.66.
Click here to visit FOXBusiness.com's Investing Center.
Though the markets appeared more upbeat than on Wednesday, which saw a lackluster start to earnings season, there was still concern about the economy's health.
The Commerce Department reported that the country's trade deficit rose to a record high in August. A separate report showed that the number of newly laid off workers seeking unemployment benefits grew by 4,000 last week to a seasonally adjusted total of 308,000. Unemployment remains low, however.
Investors were also awaiting the release, set for later Thursday, of the Federal Reserve's Beige Book, which summarizes regional economic activity.
McDonald's said systemwide same-store sales, or sales at stores open at least a year, rose 9.8 percent in September. The world's largest fast-food chain also said its third-quarter profit would top Wall Street's expectation.
PepsiCo posted a 71 percent increase in its third-quarter profit. The snack food and soft drink maker said sales rose 9 percent from the year-ago period, which was hurt by a tax charge
America...the greatest Country in the world.
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Freedom is Slavery
Ignorance is Strength
That is true... Bush (or the current seated President) should not be held responsible for downturns in the Market... and, adversely, he should not take credit for an up market.
...
But, we can and should still hold him responsible for the fucked up situation in Iraq. Stock traders weren't responsible for that mess.
Hail, Hail!!!
I think it comes from administrations taking credit and talking heads giving credit in an up market. Look at the Clinton Administration during the InterNet thing... he was taking credit for the up (although overly inflated) market. And listen to the FOX Commentaries stating 'The Economy is UP' as a plus for the Bush Administration.
You can't take credit for an up market and excuse responsibility for the down market. you either accept both... or reject both. You can't just take the clean end of the stick every time.
...
I just wish people were smarter... or didn't belive the television dispensed the gospel truth.
Hail, Hail!!!
good fiscal policy does have an effect on how the markets move. while I agree several other factors play a much stronger role.
can you imagine how many threads there would be condemming bush if we were in a recession? I would say a few.
I'm guessing... probably the same amout of threads that would have been posted after the pop of the InterNet bubble.
So?
Hail, Hail!!!
I agree.. Good fiscal policy would have a dramatic effect on the stock market. It would cause an unpresidented decline.. followed by trends that actually more closely followed the succes of business.
Now it is fueled by propaganda.
The Dow's Phony New High
http://www.bullnotbull.com/archive/stocks-6.html
excerpt:
As I pointed out in my earlier article, Manipulation, if the Dow were to make a new high, it would be a phony new high, since adjusted for inflation, we are nowhere near the old highs. Using the Fed's very own CPI Inflation calculator (Thanks to George Ure at Urban Survival for keeping a handy link to this calculator right on his homepage) we find that we'd need a 13,817 Dow today to equal the 11,750 Dow of 2000. Put another way, today's Dow High of 11,754 is equal to only a Dow of 9,995 in 2000. Pfffttt - we didn't even make Dow 10K!
If you calculate the Dow using real money - gold - you find an even worse picture. Measured in Gold, today's Dow is equivalent to only about 5,100! Using an average gold price of $275 in 2000, we establish our year 2000 benchmark: 10,750/275= 39. Using today's gold price of $580, we have 10750/580=18.5 From 39 to 18.5 is a 52.5% drop, which is equivalent to only Dow 5K!
So is it really a new high? No. But please let me know if you hear any of this mentioned on the evening news tonight.
the expectation is that the market increases incrimentally - always.. new highs should be routine..
bust of the internet bubble had nothing to do with fiscal policy. maybe lack of fiscal policy but mostly had to do wild stock speculation. panic buying even when a company had no money.
so if someone did make a thread it was strickly becuase they were anti-clinton and have no idea what was going on.
this market rise is based mostly on a good economy with solid earnings growth. fiscal policy has alot to do with that, i.e tax policy.
Which is exactly my point.
It had nothing to do with Clinton... just as this market has nothing to do with Bush.
Yet, there are still threads giving credit to Bush for upward trends and denouncing him for downward trends. Nothing to do with Bush.
Hail, Hail!!!
you missed my point. the rise and fall of the stock market boom and bust in the late 90s had nothing to do with fiscal policy. it was because of wild stock speculation.
this time it has been a steady climb for 3 years leading too new highs. that does have something to do with sound fiscal policy. which happens to be bush.
but again, many factors other then fiscal policy contribute to this current market. bush's policies have helped.
this three years is recovery from the wild speculation and the lossed due to accounting fraud.. we were able to recover - because of the sustained ability to cover much of the rest of the accounting fraud.
this is temporary - The Dow didn't properly correct - It must get down under 8,000 or lower - and as it falls - more fraud will be exposed... as the rich sacrifice a percentage of thier own - to maintain control.
sound fiscal policy? give me a break.. his greatest contribution to the stock market is the very expensive extermination of Iraqi civilians.. very stimulating to many large corporations..
you are too blinded in hate of american to have a intelligent conversation. all of what you wrote is solely based on your opinion of the bush administration and america. next.
no.. I love America.. its my family.. its not Bush that drives my opinion.. its all the dishonesty that we accept. That is why we are here. Its not much to ask you know .. that we demand the truth from our politicians. If they were willing to provide us with that precious and inexpensive commodity - we could move forward, rather than continuously move backwards..
Actually I love what Bush is doing.. he is so obviously lying that its hard for people to pretend they don't notice.. something good could come from that.
But you can be sure that the financial statements prepared by these huge companies are riddled with deception - and many very rich influencial people have large steaks in the Dow.. and they will use their influence to protect themselves.. and America likes it that way.. in fact we are religious in their right to be motivated to fulfill their wildest dreams at the expense of everyone else..
Now that the public owns a significantly larger percentage of these markets - due to the conversions of all the retirement accounts.. the rich will specialize and the net profit of these business will be absorbed leaving a fraction for the "mutual funds".
We will never understand the market and will never share in it as long as decption is the norm and the prefered way of life.
roaring 20's after WWI
rockin 50's after WWII & Korea
everyone get rich in the 80's after Vietnam
internet/ .com of the 90's after the Gulf & Bosnia
2010's after Afghan & Iraq (& Iran) ?
war creates jobs and demand on materials, soldiers are off to sea, therefore unemployment is down.....
- Mr. Edward Vedder 7/11/03
Huh?
Where did you get your 8,000 number? What consitutes a proper correction? Is there an indicator that lets us know when we've hit it?
And the only reason the Dow is up is because of our "sustained ability to cover" up accounting fraud? There are plenty of strong stocks out there increasing in value due to stong businesses practices which don't require covering up accounting fraud.
I'm not entirely certain you understand either economics or stock market dynamics. Very, very odd statements.
exactly. thats why its impossible to try to have a conversation when someone already has their mind made up.
thats a good guess. but there are many factors into a strong economy. war = good economy are not neccessarily correlated
well as soon as I say something positive about america or the administration, all I get is something about how fucked up Iraq is, CEO's are too rich, we dropped the only nuke ever, rumsfield orchestrated 9/11......its goes on and on. its tiresome.
becuase you cant hold a discussion with someone whos mind is already made about america. no matter good you can find in something, someone will always dig out the negatives. its tiresome.
The 8,000 is my estimate.. nothing more.. The dow is seriously inflated. Understand economics or the stock market? Heck no I don't..
What do you use to base your understanding? We are in completely uncharted territory economically - there are no useful historical models.. we are using outdated indicators - and selling them with political rhetoric - Our economy is no more than a political philosophy.. which is seriously flawed.
How can I understand the stock market? Its a place where dishonest business people come together to solicit investors... Am I missing something else?
Because presently it is negatives....I find very few things coming from America that are positive.....but that is my opinion....name me something positive right now from America...something that is giving the country a good name world-wide.....because sadly I see and hear about the negatives all the time...wish it was different however I see it is not.....
Every time we hit a new high, throughout the history of the market, we've been in uncharted territory, so that is nothing new. Looking at historical trends, we're tracking just fine, so "overinflated" may be an opinion, but it doesn't look that way as far as the big picture goes. We're up 12% since the beginning of the year. 10% year over year growth is pretty good. Being up 12% doesn't seem like it is completely out of the line or "overinflated". Why are our indicators outdated? Everything from housing starts to inflation to gnp are used as indicators, always have been, and they seem to explain things to some extent. Can we ever really understand all market dynamics? Of course not. There are lots of variables. But we can look at trends and indicators and make forecasts and predictions. What is happening right now doesn't have to have evil motives prescribed to it.
I never said evil.. corrupt.. self serving.. not evil.
the problems we have, as I see it, are the expectation of 10% growth annually. Our population is growing - out of control in may ways. Our resources are shrinking. Our millionaires are increasing at a disproportionate rate - yet there is a constant amount of ocean front property (for example).
The standards we are using to value business and assets - is becoming more and more obsolete. It is an illusion to assume we can continue to grow this way. Yet we perpetuate this illusion because it is profitable and those who stand to profit are in control of the illusion machine - which is politics and the media.
Yes, we are following a trend of 10% growth in the dow... that once represented our increased production - and ability to compete globally...
many of those things are changing - have already changed.. The projections are based upon fantasy.. and as reality sets in - the projections will change little by little -
It will likely be the stock market that first warns us that we will have to stop pretending and actually address our enviornmental issues, our population issues, our war fighting issues - because growth will cease.
The stock market is invested seriously in the assumption that everything will be fine regardless of what we do - or even of what you know we can't do.
Our economy is dependant on resources - and there is no more new frontier - the growth is nearly over.. We are going to have to face the music sooner or later - if not sooner.. then it will be a more violent realization.
But if its not the moon that breaks orbit and floats away - the it will likely be the stock market - the Dow Jones Industrial average that will slap us in the face for all that we already knew - but chose to ignore.
Yes, I did drugs as a young man
The best way to show your love for our country is via your desire to make it a better place.
The true America haters are the one's who blindly support our government.
THe true haters are the ones who complain constantly