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2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Dow Closes Above 10,000 For First Time In A Year

UPDATED at 4:15 p.m.

The Dow closed above 10,000 moments ago, pushing above a psychological barrier it has not recorded in more than a year.

The Dow briefly crossed 10,000 at about 1:15 p.m. today, then retreated, then punched above 10,000 after 3 p.m. and held on until closing.

The Dow staged a strong rally today, closing up 144 points, or 1.5 percent, at 10,015.

The last time the Dow closed above 10,000 was Oct. 3, 2008, and that was on the way down from its all-time high of more than 14,000 in October 2007. The first time the Dow hit 10,000 was on March 29, 1999.

Traders on the floor of the New York Stock Exchange passed out "Dow 10,000 2.0" ballcaps.

The broader S&P 500 closed up 1.8 percent and the tech-heavy Nasdaq closed up 1.5 percent.

The markets were being pushed higher by earnings. Intel's third-quarter numbers came in this morning with both revenue and earnings gains.

J.P. Morgan Chase also beat estimates in earnings released this morning. Chase is a large retail bank with lots of exposure to consumer debt -- and default -- and its third-quarter performance was closely watched. Chase said loan losses would continue for the foreseeable future, but the bank's gains in investment banking trumped that bad news, in traders' minds.

Also goosing the markets today was oil: It closed above $75 per barrel, a one-year high. It's still half the price of its all-time high in July 2008, but it had been stagnating in the $50s lately.

Peter Boockvar, equity strategist at Miller Tabak, passes along some memories of 1999 as a way of illustrating where we were when the Dow last hit 10,000. He notes:

- Gas was $1.20 per gallon. Today, the national average for a gallon of regular unleaded is $2.48.

- The dollar index (DXY), a comparison of the dollar's strength against other currencies, was 100.36. Today it's at 75.60, showing a dollar weaker by 25 percent.

- The other side of the dollar coin, so to speak: In 1999, gold was $280 per ounce. Now, it's $1,060, showing investor anxiety in the dollar.

- Most frighteningly, the total U.S. debt was $24.6 trillion. Today, it's $50.8 trillion. And soaring.

-- Frank Ahrens
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By Kendra Nichols  |  October 14, 2009; 4:15 PM ET
Categories:  The Ticker  | Tags: 000, Dow 10, Dow Jones, nasdaq, s&p 500  
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Next: Inflation Up, New Jobless Claims Down to Lowest Level Since Jan.

Comments

I would not call a one-percent increase a "surge." I would set threshold at four-percent or so.

Posted by: Bitter_Bill | October 14, 2009 10:25 AM | Report abuse

It would certainly be useful for commentators on the stock market to practice jounalism that has at least a minimal claim to being responsible. It may be true that the current DJI value is closer to 1,000 than it has been for a year. But, it is certainly not true that today's market action has been anywhere near the strongest surge in that direction in the last year.

Posted by: dnjake | October 14, 2009 11:35 AM | Report abuse

a MORE sanguine report by TIME:

http://www.time.com/time/business/article/0,8599,1930091,00.html

Posted by: ajain31 | October 14, 2009 1:12 PM | Report abuse

When Timmy "Al Capone" Geithner throws money at the market from the Fed as bait, run in fast and cash out up.
Don't bite down on the lure.

Posted by: dottydo | October 14, 2009 1:32 PM | Report abuse

- Most frighteningly, the total U.S. debt was $24.6 trillion. Today, it's $50.8 billion. And soaring

Is that what you meant> or are the trillions and billions reversed???

Posted by: jrfellabaum | October 14, 2009 1:36 PM | Report abuse

"Most frighteningly, the total U.S. debt was $24.6 trillion. Today, it's $50.8 billion. And soaring."
so it's gone down then?

Posted by: manutd | October 14, 2009 1:39 PM | Report abuse

Gosh, all our friends on the right have been running around screaming that the sky is falling on our capitalist economy with the radical changes "Obama the socialist" has been enacting. Someone apparently forgot to tell all the sophisticated traders on Wall Street.

Ah well. Maybe the Town Hall screamers just need to yell "socialist Muslim" a little louder and Wall Street will hear? Or maybe, they need to get reacquainted with reality.

Posted by: B2O2 | October 14, 2009 1:44 PM | Report abuse

Numbers are not my thing, but isn't a billion a lot less (one zero less) than a trillion? If so, then what is the journalist complaining about if the debt is now $50.8 billion -- that's a lot further down from the $24.6 trillion mark he quoted, isn't it?

Posted by: Crocus65 | October 14, 2009 1:44 PM | Report abuse

Sounds like the banks are speculating for a quick bounce of profits!! Watch out they are playing gold for the suckers just like in any other weak economy! It is Las Vegas, if you don't know the odds you are in big trouble. vulture capitalism is alive and thriving on our carcasses as usual.

Posted by: Wildthing1 | October 14, 2009 1:45 PM | Report abuse

Dow tops 10,000. We need accompanying photos of traders with sh*t-eating grins on their faces.

Posted by: Bitter_Bill | October 14, 2009 1:48 PM | Report abuse

It's look like we are on the way to full healing after hard recovery. And then we'll start to grow again. More and more... Why not, after all? Don't let only idiots to rule anymore. Never again.

Posted by: aklimento | October 14, 2009 1:50 PM | Report abuse

AWESOME! So, from the March 9, 2009 low, the Dow has rocketed up 52%. Those are great returns - and while fox news pudnuts will try to spin this as another bubble... Warren Buffett disagrees. He sees many stocks as significantly undervalued even today.

Posted by: free-donny | October 14, 2009 1:55 PM | Report abuse

Chase may be recording profits but they are not lending. I applied for a twenty thousand dollar loan the first week of February, this year. Should have been absolutely no problem. Chase is still giving me BS about how far behind they are. Truth is, they are not lending.....I have moved all assets to a smaller community bank where it took 2 weeks for the loan to go thru. Chase is certainly not consumer friendly.

Posted by: liberalwesterngirl | October 14, 2009 1:59 PM | Report abuse

The thugs who consider themselves "conseravative" will find a way to blame Obama, no doubt.

Posted by: jabreal00 | October 14, 2009 2:07 PM | Report abuse

Of course to the fail-mongering Republicans this must be bad news.

Posted by: Honest_Abe | October 14, 2009 2:17 PM | Report abuse

I sure hope when these people buying sell their shares they can get paid in Pesos because Ben, Obama, and the boys have made the dollar worthless. A hyperbolic market and a crashing dollar with high unemployment and a mounting deficit. Let us not forget a negative trade balance and astronomical PE's despite phony bookeeping. No doubt about it our President desrves the Nobel prize. Mikhail Sergeyevich Gorbachev received the Nobel in 1990 as the Soviet Union collapsed.

Posted by: gvelanis | October 14, 2009 2:19 PM | Report abuse

The market is up. Damn that Obama and his socialist policies!

Posted by: FactChecker1 | October 14, 2009 2:44 PM | Report abuse

market is up...so is gasoline and cost of living, don't get misled by the dow, before you heave that sigh of relief, try to protect your assets...crash coming

Posted by: cadre | October 14, 2009 2:51 PM | Report abuse

"Most frighteningly, the total U.S. debt was $24.6 trillion, today it is $50.8 trillion," is what is printed--not sure where the confusion came from.

Posted by: wallflower | October 14, 2009 2:56 PM | Report abuse

DOW HITS 10,000; BIG FREAKEN DEAL 15 MILLIONS ARE THE UNEMLOYEDS ! THAT'S WHERE ALL AMERICAN CRIMINALS MULTIPLY THEIR MONEY, THE SAME PEOPLE WHO ALMOST DESTROYED THE COUNTRY & WILL NEVER GO TO JAIL, BECAUSE AMERICA BANANA REPUBLIC IS OWNED BY THOSE CRIMINALS 1% .

Posted by: mtavro | October 14, 2009 3:21 PM | Report abuse

it's a balloon party!

everybody grab a balloon and believe you can fly! and you will! for a little while! until the invisible derivative loses show up and crash the party.

the we the people will clean up again.

how about 25% unemployment next time?

the rich don't care if we all become slaves - in fact they would prefer it!

reenact glass steigel or hell will be payed.


Posted by: ryan_heart | October 14, 2009 3:44 PM | Report abuse

Why does the market only go up when a Democrat is in the White House?

Posted by: magnifco1000 | October 14, 2009 3:45 PM | Report abuse

A ten percent unemployment rate (exciting, by the way for Wall Street) and the market goes wild. There is a frightening disconnect between Wall Street and the real America. It's business as usual for financial companies, with implied consent of the Congress, and 'let them eat cake' for the rest of us.

Posted by: Diogenes | October 14, 2009 3:47 PM | Report abuse

They will run it up to 10,000 and short it to 7000. They don't care how they steal your money.

Posted by: notabeliever | October 14, 2009 3:48 PM | Report abuse

Hurray! The dollar is weaker!
That's all this means.

Posted by: ai3di | October 14, 2009 3:51 PM | Report abuse

"The Dow briefly crossed 10,000 at about 1:15 p.m. today, then retreated."

"Most frighteningly, the total U.S. debt was $24.6 trillion. Today, it's $50.8 trillion. And soaring."

ENOUGH said.

Posted by: MsDee1 | October 14, 2009 3:51 PM | Report abuse

I'm sure we can attribute this to Obama's socialist polices, huh?
Sure.
We get it.

Posted by: robtay12003 | October 14, 2009 3:52 PM | Report abuse

Let's see what kind of a nasty spin the Republicans put on this. If they can cheer against the U.S Olympic bid and boo when the U.S. president gets the Nobel prize, they can surely find something to hate about the Dow going above 10,000 on the Democratic watch.

Posted by: tinyjab40 | October 14, 2009 3:55 PM | Report abuse

So many fools, the dollar gets weaker, the DOW goes up. So, so many of you are cheering for the dollar being weaker. Yay?
The stock market is up 52% from since March, how much weaker is the US Dollar since then?
This could bring more investors and tourists to America, but since most of them wouldn't want to, it most likely won't.

Posted by: ai3di | October 14, 2009 4:04 PM | Report abuse

"No doubt about it our President desrves the Nobel prize. Mikhail Sergeyevich Gorbachev received the Nobel in 1990 as the Soviet Union collapsed"

Is this person joking?!? Not coincidentaly, communism did fall in the USSR around that time.

Moron

Posted by: seanhrt | October 14, 2009 4:16 PM | Report abuse

This incredible surge in the DOW explains why I just lost my job. C'mon and FEEL that recovery! Doesn't it feel GOOD?

Eat a bullet, Wall Street.

Posted by: emgee | October 14, 2009 4:23 PM | Report abuse

The Stock Market is one small indicator in the health of the American Economy. Until I see jobs -- and that is high paying, quality jobs -- coming back, I am not going to start jumping for joy. Many of the problems we face today are triggered by quarterly reports, and enormous bonuses paid for executives simply doing their job.

Until we achieve a lot more balance in reward systems, jobs for ordinary Americans, and reduction of debt, we are not recovering.

Balance is the key, and the Stock Market (casino?) has only a small influence on our economy. What is going to happen when the commercial real estate bubble appears? What is going to happen if we don't deal with our consumer overspending? Debt can only go so far, and then a country has to devalue it's currency. Could that be in our future?

Posted by: Tawodi | October 14, 2009 4:24 PM | Report abuse

Bitter Bill...you and the remaining die hard 27 percenters who still maintain Bush was the best President to nearly choke to death on a pretzel, must just be seething that the nation is recovering under Obama after the epic fail it suffered under Bush. I also see that you weighed in on another WAPO article where you believe in creationism, rather than evolution.

Imagine my surprise.

An increase of 1.5% in the DOW has always been called a surge. One would wonder what you would call a 52% increase since April, or a 25% increase since Obama took office? Conversely, one would wonder what you call a 53% fall from its highs?

Job losses have slowed by 45% since Obama took office, the economy has stopped its contraction and is beginning to grow again. Man...its been a bad year for America haters such as yourself.

Posted by: Nosh1 | October 14, 2009 4:28 PM | Report abuse

Here's my best impression of a WaPo reporter:

"This is horrible news for Obama! He hasn't been in office long enough to deserve getting a stock market that exceeds 10,000 points! This will box him in! There are many other people out there who deserve a stock market over 10,000! Obama should decline to accept a 10,000-point stock market! This is all a ploy by American-hating investors to make Obama look good in comparison to George Bush!"

Posted by: castanea | October 14, 2009 4:31 PM | Report abuse

It's just a number. In itself meaningless. The market is completely uninterested in emotion and "magic number" thresholds. It reflects, always and near perfectly, the perceived value of hundreds of companies - and the DJI the same for a mere 30 co.s.

Posted by: AlanBrowne | October 14, 2009 4:40 PM | Report abuse

Hey there, boys and girls! Wanna make big money in a hurry? Just buy some DJIA futures options! Go big! Go long!

Chumps.

Posted by: sasquatchbigfoot | October 14, 2009 4:41 PM | Report abuse

Tinyjab40,

Since you are too lazy to look it up for yourself, the value of the dollar has fallen 9% (against the euro) since March as the DOW has climbed 52%.

Then again, the dollar value fell 37% in value against the euro from the day Bush took office in 2001 and the day he left in 2008.

Oh...you didn't realize that did you.

Posted by: Nosh1 | October 14, 2009 4:42 PM | Report abuse

Tomorrow it will be back below 10,000. The economy is still a house of cards and a nearby cat passing gas will make it tumble.

Posted by: rcc_2000 | October 14, 2009 4:46 PM | Report abuse

Old Ploy, Banks buying each other stocks,to kick up market. This is Strike week, market could be soft tomorrow, and strike day Friday, could be a big run up and run down, settle even, Friday.

Posted by: jdLaughead | October 14, 2009 4:54 PM | Report abuse

I love how the people on here are trying to claim that Fox News and the Republicans are trying to "downplay" this, as if what happened is of some earthshattering significance. Furthermore, when the unemployment rate hits 20%, the Republicans won't have to downplay the Dow, because no one will care where it is when we have double-digit unemployment.

The DOW hitting 10,000 will be news for a day. Double-digit unemployment will reverberate through the midterms.

Posted by: Bob65 | October 14, 2009 5:01 PM | Report abuse

What to go Mr. O! You are reversing all the issues that the Bushie and his Repubs did to this economy.

Posted by: Classic60 | October 14, 2009 5:02 PM | Report abuse

This just in... 3 million people have been rehired, home foreclosures are down, retail sales up, all TARP funds have been repaid with interest, auto industry given back to shareholders, and the "stimulus" is no longer needed.

Are we really that naive???

Posted by: miboard157 | October 14, 2009 5:02 PM | Report abuse

What a bunch of ninny asses! The Dow is higher than in an entire year and the whiners come along and do what they do best: WHINE

Posted by: KeithTaylor | October 14, 2009 5:04 PM | Report abuse

Nice little benchmark, but a little artificial in my eyes. I won't be diving in with both feet just because we've reached 10,000.

Until employment numbers start to be referred to in terms of "gains" instead of "slowing losses", housing prices show some recovery, and consumer spending starts to trend out of the tank, I'll view this as Wall Street just being Wall Street.

Posted by: EddietheInfidel | October 14, 2009 5:05 PM | Report abuse

Dow 10,000! AWESOME!!! AWESOME!!! Sorry Limbaugh!

Obama 10,000 - Limbaugh 0

AMERICA WINS!

Posted by: free-donny | October 14, 2009 5:05 PM | Report abuse

OBAMA Rules!

Flush Rimbowl is gurgling and swirling.

Posted by: johng1 | October 14, 2009 5:09 PM | Report abuse

Thank you, Obama!

Posted by: topwriter | October 14, 2009 5:11 PM | Report abuse

Please explain what Obama has to do with this. I anticipate your analysis.

Posted by: njtou | October 14, 2009 5:18 PM | Report abuse

I am happy for all you Obots who are cheering another one for your boy. Wall St. donates more money to the dems and the dems now represent the wealthiest congressional districts, so he is delivering the goods. You can now go back to sending your kids to private schools and not worry about selling your house in the Hamptons. While your at it, let a few million more illegals into the country to take care of your lawns and don't forget to lecture unemployed Jim Bob in Red State, USA about Sustainability, Darwin, and Diversity as his job is outsourced to China to make batteries for your Prius because the factory he worked at violated exceeded carbon emission limits.

Posted by: gouZgounis | October 14, 2009 5:20 PM | Report abuse

What's interesting is the bunch of right wing wacko's who are still wishing that the market hence the economy and the president will fail.

Each time the market goes up so does their blood pressure along with the vitriol they spew. If we are lucky, some will succumbed to a heart attack…Good Bye and Good Riddance!

Posted by: Citi__Street | October 14, 2009 6:00 PM | Report abuse

I question the motives and loyalty of those who stubbornly align themselves against America's economic recovery.

10,000 Dow ROCKS!

Posted by: free-donny | October 14, 2009 6:02 PM | Report abuse

How many of you were cheering when the Dow surpassed 14,000 2 years ago under W? It was meaningless then and is meaningless now, except for the few who get rich off short selling.

Posted by: gouZgounis | October 14, 2009 6:07 PM | Report abuse

Let's take a little good news where and when we can get it. 10,000 is certainly symbolic, but the market is psychologically driven anyway. I can just amount the gnashing of certain teeth if the DJ had closed down 2 or more percent.

However, there is no doubt that a lot of "Average Joe and Josephine" Americans who have lost jobs, have money problems and are worried about their mortgages don't feel very warn and fuzzy about today's Wall Street event.

Fact check to dottydo: Timmy "Al Capone" Geithner is the Treasury Secretary, not the Chairman of the Federal Reserve. Ben "Santa Claus" Bernanke is.

Posted by: MillPond2 | October 14, 2009 6:09 PM | Report abuse

The Dow at 10,000? Evidence of a coming more serious recession. The fools who believe in the Stock Market will buy and the smart guys will sell.

Posted by: ravitchn | October 14, 2009 6:10 PM | Report abuse

"Most frighteningly, the total U.S. debt was $24.6 trillion. Today, it's $50.8 trillion."

A trillion here, a trillion there. Pretty soon we'll be talking real money.

Posted by: AlanGoldberg54 | October 14, 2009 6:23 PM | Report abuse

Geithner responsible for AIG bonuses!!

http://news.yahoo.com/s/ap/20091014/ap_on_bi_ge/us_aig_bonuses

Posted by: angie12106 | October 14, 2009 6:23 PM | Report abuse


So who are these investors really? "Investment/banks" with access to the fed window @ zero % interest. i.e. a gigantic derivative balloon pump!

Plus! They are gambling with "the tax payers money" not their own. If they go bust it falls back on us!

reenact glass steigel now! or become wall street's slaves tomorrow!

Posted by: ryan_heart | October 14, 2009 6:30 PM | Report abuse

Massive bonus to come. So I guess this means the underlying stability of our economy is sound. I think not. It's all a house of cards.

Posted by: morphylius | October 14, 2009 6:46 PM | Report abuse

Hey....joke's on us again.

The big 5 banks are sitting on hundreds of billions of bad real estate debt. It's hidden away somewhere where we can't see it. They are insolvent. Where did the money go ??

AUDIT THE FED and we'll find out.

Posted by: bandcyuk | October 14, 2009 6:56 PM | Report abuse

I heard yesterday that the deficit is down $400 billion and now this. What is going on? Surely it can't be that obama's economic team is working. GOP heads are gonna EXPLODE!!

But I'm sure tomorrow the headlines will read dire disastrous economic news. We will hear how obama's stimulous and the bailouts have nothing to do with this. Obama's admin deserves no credit. NO NO NO NO NO--the gop mantra.

Posted by: tmcproductions2004 | October 14, 2009 6:59 PM | Report abuse

Obama. Obama! OBAMA!

Posted by: chucky-el | October 14, 2009 7:02 PM | Report abuse

Fast run ups like we saw in the latter part of the last century and again a couple of years ago are not necessarily a good thing as the two down turns following those periods will attest. So, please don't confuse the DOW with the health of the economy.

What are more important indicators of our health are things like GDP growth, trade deficits (or surpluses if you care to go back to pre 1975 days), savings versus debt, unemployment, and inflation. While I like to see the DOW go up for selfish reasons (my portfolio is more valuable), I am fearful the other factors I mentioned that are the real measure of an economy's health, are not doing very well. In fact, it's looking really bad. In fact, this run up could be the precursor to inflation ... bad inflation. Our debt, declining dollar value, and cost of doing business are tell-tale signs that's where we are headed.

I recommend you eliminate as much variable rate debt as you can, use fixed rate debt for things you MUST by on credit, or better yet, pay down/off your debt. Work to make your lifestyle manageable with at least 75% of your current purchasing power, and maybe you'll ride it out.

Posted by: facts-please | October 14, 2009 7:12 PM | Report abuse

This is breaking news? I guess it's a big deal for the numerically obsessed, but how about those of us who live in the real world?

Here's an idea for the copy desk. Every time the word "investor" appears in a financial news story, substitute "gambler." For "stock market," substitute "casino." For "economy," how about "tooth fairy"?

Posted by: hagwind | October 14, 2009 7:13 PM | Report abuse

This was even bigger news a DECADE ago.

Posted by: slim2 | October 14, 2009 7:15 PM | Report abuse


Right, a 10,000 Dow is nothing of great significance to take note of. We should be more concerned about the recent award of the Nobel Prize to the President.

The fact that the Dow has moved almost 4000 points since march is just another indicator that we're a nation in decline and that Presdent Obama is a socialist and leading us to failure.

Right. . .


Posted by: kenhyde | October 14, 2009 7:18 PM | Report abuse

The president deserves a party on the floor of the N.Y. Stock exchange. He should be paraded around the floor on the shoulders of the traders. Also a ticker tape parade would be in order. His economic team is responsible for the tremendous rise in market shares. Lets forget about the few million unemployed and count our blessings and profits.

Posted by: melvin_polatnick | October 14, 2009 7:26 PM | Report abuse

That is absolutely terrible news to hear!...that is if you are a Rush Limbaugh, Glenn Beck, Sean Hannity, Mike Savage follower.

Posted by: matrox | October 14, 2009 7:29 PM | Report abuse

Does anyone back east know how foolish this looks from the west coast.

I don't know anyone who's made significant money in the market. I know many who've lost life savings, retirement accounts, etc.

If this is a positive sign of something, great; but being surrounded as I am by 20% unemployment, couple by significant under-employment everywhere I look, makes this uptick more or less meaningless.

Posted by: youmustbejoking1 | October 14, 2009 7:29 PM | Report abuse

Typically, the conservatives blamed Obama for the fall in the market after he took office, but deny him credit for its recovery. Of course, he had little to do with either, but that doesn't prevent the right from blaming him for everything and giving him credit for nothing. And why has bipartisanship failed? Because Republicans don't want him to have any successes; they would rather see all of us fail than to credit him with any improvement. The party of "no" that has had no new ideas since Calvin Coolidge.

Posted by: csintala79 | October 14, 2009 7:29 PM | Report abuse

The logic of Obamaphobia - Lesson #38:

Financial Markets continue to tank in early 2009. Lesson - Wall St. does not have any confidence in Obama and his Marxist Socialism.

Dow reaches 10,000 for the first time since 2008. Lesson - Obama is a tool of big money interests on Wall St. and is no friend of Joe Sixpack.

The first paragraph pretty much describes the tone of Bill O'Reilly's commentary this past March on at least one of his broadcasts. Any thinking person will acknowledge that the Dow and Nasdaq indices only tell part of the economic story. But now where are all of these right wing snarks who were blaming Obama for where the Dow was this past winter?

Posted by: CynthiaD1 | October 14, 2009 7:32 PM | Report abuse

"the conservatives blamed Obama for the fall in the market after he took office, but deny him credit for its recovery. Of course, he had little to do with either"

You go too far. The fall certainly wasn't his fault, be he surely had a lot to do with stopping it and turning it around. Just imagine if McCain had been elected -- we'd still be looking for a bottom.

Posted by: nodebris | October 14, 2009 7:38 PM | Report abuse

Recovery? Where are the jobs???

Posted by: jimd3 | October 14, 2009 7:47 PM | Report abuse

In reading the comments of these posts I note the absence of many of the Washington Post forum "regulars". In particular I don't see Ekim53, Tupac_Goldstein, Dottydo and the inestimable JakeD with their thoughtful ruminations on this news today.

Gosh, you don't think it's because this is good news that is happening in Obama's first year, do you?

Posted by: CynthiaD1 | October 14, 2009 7:49 PM | Report abuse

Who cares if the Dow Jones has passed 10,000? this has not made a difference for the unemployed, the foreclosures, the depreciation of the dollar, the massive bailouts to those who dont deserve it, to bankrupt cities, counties and even states. This is a feel good news for those involved in the stock market and means absolutely nothing for the rest of us.

Posted by: rsbnola | October 14, 2009 7:56 PM | Report abuse

LOL! :-D

ONLY a Brain-Dead Libbie Cheerleader could cheer O'Bomba-Nation for the DJIA recovering to 10,000!

Folks, this time last Year, it was @14,000!

Then, O'Bomba-Nation was the apparent winner-who BTW was talking Tax Increases, elimination/Raising Taxes on Capital Gains, and so many other economy killing blunders!

The Investors screamed: "Run! Run! Run AwaaaaAAAYYYY!"

And they DID!

Then, the Banks got revealed!

Reality check time...

The House is only JUST NOW getting around to trying to actually Regulate Derivatives!

...seems Immigration reform(Amnesty to 20 Million Job stealing/ wage Destroying/ Community Wrecking INVADERS is more important!

IF the economy is somehow improving-before really tanking this Winter;

it is most certainly NOT because of O'Bomba, Geithner or Summers;

but;

in SPITE of the dim-Bulbs! :-(

Unemployment: >10%

Libbies;

STFU!

Posted by: SAINT---The | October 14, 2009 8:04 PM | Report abuse

TODAY THE DOW IS AT THE SAME LEVEL LIKE IN MARCH 1999:
This year's rise in the Dow does not indicate a recovery in the economy, instead the Dow closed today (Oct. 14, 2009) pretty much at the same level as back in March 1999 and again like a year ago. Obama scared the markets and they sold off to a low of Dow 6,500 until March 9, 2009. Since March '09 all we had was a technical bounce due to the sharp Obama Crash selloff.

No fundamental data supports the current extension of this year's rally other than perhaps in the financial sector as financial institutions are making more money than ever before, ... because fed fund rates are at/near Zero and anyone can make a fortune with free money with net margins of 2,000% and more. So the big banks, mostly investment banks like JPMorgan, Goldman Sachs, Morgan Stanley, etc., will make a fortune now and in the quarters to come and this will continue to be a sure bet.

If the rise in the Dow would have been an indication of an underlying economic recovery, then most hedge funds wouldn't be short the market as their short positions have increased over the past couple months. How should the rise in the Dow be the indication of an economic recovery when based on U-6 data the unemployment rate is over 17% which means that a fifth of the U.S. workforce is out of work, ... thanks to Obama and his cohorts. At the end of the Bush administration, unemployment was just about 6% and now under the Obama regime U-3 unemployment data has skyrocketed to near 10%. There's no underlying economic recovery! Also considering that home foreclosures continue to increase at breathtaking speed and for every 10 foreclosures only 1 home gets sold. So, go figure, ... enjoy the rally, but make sure to lock in your profits.

Posted by: scherf_com | October 14, 2009 8:05 PM | Report abuse

harrumph! it's all Obama's fault

Posted by: coloradodog | October 14, 2009 8:10 PM | Report abuse

More bad news for al-Qeada, the Taliban and their allies the Huckabees

Let's hope nothing else good happens or ol' Rush will implode.

Posted by: coloradodog | October 14, 2009 8:12 PM | Report abuse

Nothing has convinced me more of the wisdom of my casting my vote last year for November for Barack Obama then the "wisdom" and "reasoned logic" on display here by some of the right wing wingnuts.

Note: Flinging "STFU" at people who disagree with you does not make for a more formidable argument.


Posted by: CynthiaD1 | October 14, 2009 8:13 PM | Report abuse

How many of you were cheering when the Dow surpassed 14,000 2 years ago under W? It was meaningless then and is meaningless now, except for the few who get rich off short selling.

Posted by: gouZgounis | October 14, 2009 6:07 PM
////////////

The same right wing Wacko's who were cheering in March when the DOW dropped below 7000 points for the country to fail

Posted by: Citi__Street | October 14, 2009 8:18 PM | Report abuse

Slowly and steadily, the hard work of millions of Americans is being rewarded. Their value of their investments in American businesses are gradually increasing. In investment as in life, patience is a virtue.

Posted by: jaywind | October 14, 2009 8:46 PM | Report abuse

Not a good week for neocons?

- President Obama wins Nobel Peace Prize.

- Dow tops 10,000 representing 52% rise since stimulus was passed.

- Finance Committee approves healthcare reform package with multiple Republicans pledging support.

- Rush Limbaugh dumped from team bidding to buy the Rams.

Oh well teabaggers, there's always Maloxx.

I question the motives and loyalty of those who stubbornly align themselves against America's economic recovery.

Posted by: free-donny | October 14, 2009 8:56 PM | Report abuse

This can not be happening .... Obama haters said the market would crash once Obama was sworn in, boss Limbaugh promised them it would happen.....

Posted by: knjincvc | October 14, 2009 9:35 PM | Report abuse

The Big Lie still holds the heavyweight championship of the world. Oh, we're happy that the DOW went over 10,000. Just don't think we're fooled into thinking the Great Recession is over, when the national unemployment rate is close to 10%, and hits 16-20% in some areas. You liars. Nothing's right until people have jobs that meet their abilities--jobs that pay the way they used to.

Posted by: jacktar2001 | October 15, 2009 4:33 AM | Report abuse

I am happy that dow has 10000 mark. I hope to see the past glory of crossing 14000 mark.

Posted by: venkatesh102 | October 15, 2009 6:08 AM | Report abuse

I am happy that dow has crossed 10000 mark. I hope to see the past glory of crossing 14000 mark in future.

Posted by: venkatesh102 | October 15, 2009 6:09 AM | Report abuse

The banks get bailed out and now some of them are reporting profits. The gap widens even more. The rich get richer and the poor get poorer. Classic case. History repeats itself again.

Posted by: tjmegehe | October 15, 2009 9:37 AM | Report abuse

The president deserveS respect and honor, wake up yankees.
You were drowning and being rescued, just after you were rescued your first comment WAS "THE WATER IS NOT DEEP ENOUGH!!!!"

Posted by: biba2 | October 15, 2009 11:28 AM | Report abuse

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