Dow closes above 12,000 (1st time since June 2008)

[pinto]

Dow closes above 12,000
Los Angeles Times | Feb. 1, 2011 | 1:16 p.m.

Stocks rallied today on fresh signs of momentum in the U.S. economic recovery, and the Dow Jones industrial average closed above 12,000 points for the first time since June 2008.

The Dow jumped 145.20 points, or 1.2%, to end the day at 12,036.83. The rally came after a report indicated the U.S. manufacturing sector grew last month at the fastest pace in seven years, adding to evidence that the economy began the year with real momentum.

Tuesday's advance was especially notable because the market appeared to shrug off any concerns about fallout from the political unrest in Egypt.

http://www.latimes.com/

[DJ13]

1. Happy days are here again!

But please remember, its considered bad manners to step on the homeless on the way to the broker.

[GoCubsGo]

2. I'm thrilled, actually.

I'm going to have to tap into my 403b so I can pay my mortgage, and not become homeless myself. The more that's there, the better. I'd rather have a job, but at this point, I'll take what I can get.

[DJ13]

3. Im glad you have it then

:thumbsup:

I hope things improve for you very soon.
:hi:

[earthside]

4. Thanks Ben Bernanke ...

... and the Fed's $600 billion of magic money.

Inflation a comin' folks.

[2Design]

5. country is in the sh#### ter and the stockholders are HAPPY just like layoffs

these people celebrate when others are cut and lose their jobs

[malaise]

6. Last week n/t

[Nye Bevan]

7. Dow under 8 years of Bush: 10,588 to 7,949. Dow under 2 years of Obama: 7,949 to 12,040.

OK, so the stockmarket is not the *only* important economic indicator but it is a good measure of economic optimism. And unemployment is certainly too high, but higher stock prices mean that it is easier for companies to raise venture capital for expansion, which should result in new jobs being created. Also, I'm happy that I kept faith in Obama's economic management and left my 401k invested in stocks. Bush decimated my retirement savings; Obama has restored them.

[Statistical]

8. Be sure to spread that to all your Republican friends and coworkers.

Say The DOW gains just 8% on average for the remaining 6 years (assumming Obama is re-elected). We are looking at Dow 19,000. :)

Not saying that will happen but it certainly isn't out of the realm of possibility that DOW hits lifetime high under "socialist" Obama.

[Nye Bevan]

9. Bill Clinton took the Dow from 3,310 to 10,588.

Another little fact to throw out there in arguments with coworkers etc.

[MoonRiver]

10. WOOHOO!

I have a 401b! :woohoo:

[eridani]

11. Fucking over Main Street pays very well n/t

[Nye Bevan]

14. Much of the increase in the index is due to companies like Apple.

How did Apple "fuck over Main Street"? :shrug:

[eridani]

19. The only people who have money are using it to blow up another investment bubble--

--instead of lending it to Main Street.

[Warren DeMontague]

12. That can't be right. I was told in no uncertain terms that it was going to hit below 3,000 by now.

Absolutely. Without question.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x5167387#5167699

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x5168573

[Nye Bevan]

13. I *wish* I'd bought more stocks at the time those threads were posted.

That was pretty much the bottom of the market.

[Warren DeMontague]

15. I didn't have a whole lot of cash available (what else is new) but I put a little bit in that week.

The timing was perfect. If it had only been, say, several orders of magnitude more, I'd be sitting pretty right now.

[Nye Bevan]

16. Good for you.

I wanted to, but I was too afraid. Those were scary times. But at least I didn't panic and dump the stocks I already owned.

[tjwash]

17. Its a bubble, the country is crashing and burning tomorrow, and I'll be there to piss on the ashes

:sarcasm:

[madinmaryland]

18. WHERE ARE THE JOBS, BOEHNER???