01
Feb
11

‘dow closes above 12,000 for first time since 2008’

Washington Post: The Dow Jones Industrial Average closed above 12,000 Tuesday for the first time since June 2008. The milestone was another mark of recovery from one of the worst financial crises in the nation’s history – and a sign that investors expect the economy to keep growing instead of taking a second dip into recession.

….The news raised hopes on the economic front. “We have issues; we have problems,” said James W. Paulsen, chief investment strategist at Wells Capital Management, an arm of Wells Fargo. “But I don’t think they’re as overwhelming as what everyone thought, and that’s why we’re back here as fast as we are.”

The Dow, an index of major corporate share prices, has now risen more than 83 percent in less than two years….Companies such as IBM, Apple, Netflix and Caterpillar have contributed to the momentum with encouraging year-end reports or upbeat financial forecasts…..

The symbolism of a Dow 12,000 could be as much political as economic. In his recent State of the Union address, President Obama noted that the stock market had “come roaring back.”

More here

And…..

AP: The best month for U.S. factories in nearly seven years is brightening the outlook for job growth.

Companies are exporting more construction and mining equipment, and Americans are buying more cars, appliances and computers.

The Institute for Supply Management, a private trade group, said Tuesday that its index of manufacturing activity rose last month to 60.8. It was the highest reading since May 2004 and the 18th straight month the sector has grown. Any reading above 50 indicates expansion.

The strong data on manufacturing activity was a major reason the Dow Jones industrial average closed above 12,000 for the first time since June 2008.

More here


4 Responses to “‘dow closes above 12,000 for first time since 2008’”


  1. 1 majii
    February 1, 2011 at 8:27 pm

    But, but this has gotta be a result of GWB’s economic policies! Obama can’t do anything right!!!*

    *The preceding was a reference to the first time the stock market increased in 2009, and the republicans gave credit to GWB whom a Census Bureau report showed was a failure at every measure of effective governance, including the economy.

  2. 3 vitaminlover
    February 1, 2011 at 11:06 pm

    This is MY President. This man is working so diligently for us in so many different ways that we will continue to find out over time.

  3. 4 Luanne Webster
    February 2, 2011 at 9:16 pm

    This is great news!!


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