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

Dow Back Above 10,000

UPDATED at 3:10 p.m.

After opening with a pullback from 10,000 this morning, the Dow climbed back above the five-digit barrier and then spent most of the day zig-zagging above and below the line.

With a little less than an hour to go in the trading day, the Dow is up 20 points, or two-tenths of 1 percent, at 10,035.

The broader S&P 500 is up the same amount and the tech-heavy Nasdaq is just into negative territory.

Stocks have been pushed higher by Goldman Sach's boffo third-quarter profit of $3.2 billion, just below J.P. Morgan Chase's quarterly profit, reported yesterday. Troubled Citigroup managed to eke out a $101 million quarterly profit.

Also pushing stocks higher today is oil, which has settled above $77 per barrel for the first time this year.

The Dow hit and then closed above 10,000 yesterday for the first time in more than a year, marking an important mile post along the way to recovery. But the road is not smooth from here. I wrote a piece on what you need to know about Dow 10K, which you can read by clicking here.

Tech giants Google and IBM report quarterly earnings after the bell.

-- Frank Ahrens
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By Frank Ahrens  |  October 15, 2009; 3:10 PM ET
Categories:  The Ticker  | Tags: Dow Jones, nasdaq, s&p 500  
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Next: I Talk Dow 10K on NewsHour

Comments

WPO is high rolling today. I need to roll, so keep rolling high Post. If the road is rough, fly.

Posted by: Dermitt | October 15, 2009 11:13 AM | Report abuse

But, now its back over 10,000 again! How close are we gonna watch this thing? Invest in America and ride out the highs and lows...

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

Posted by: free-donny | October 15, 2009 1:36 PM | Report abuse

Wow! Closed at 10,062 ! Are we happy yet?

Posted by: free-donny | October 15, 2009 6:17 PM | Report abuse

What IS really going on here? Another 1/2 million jobs lost, no signs of hiring anywhere but in government, retail sales down, car sales gone again after clunker, yet excitement over Dow 10,000 stands out. Who is buying into the market? Can't be the jobless! I believe that the whole mess that led to the bailouts and TARP was intentionally concocted by the big money elites with close ties to DC. Funny, but the only companies showing big gains are some of those that got handouts. Oil is climbing again. Whose buying oil stocks? Not the jobless! Call me crazy but I believe there is enough money out there amongst the big players to manipulate this market at will. Let's say that the same big players who caused the downturn are now playing back in for the purpose of making it look like there is some kind of recovery. That gives Obama cover to claim his bs stimulus package is working. Meanwhile, job losses continue and no effort to create jobs continues. That allows this giant power grab by the corrupt Dems to continue to the point of no return. I think we need to find out who is buying big time into the market. The answers might lead to surprising places. We need to find out what is really going on before it's too late, assuming it's not too late already! This is all very suspicious.

Posted by: yankee11 | October 15, 2009 6:34 PM | Report abuse

Yankee11

You might want to check your medication.

Your posted comment is very suspicious.

Posted by: jhatwhcr | October 16, 2009 9:15 AM | Report abuse

The comments to this entry are closed.

 
 
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