October 9, 2003

HOW DO WE KNOW WE'RE IN THE EARLY STAGES OF A RECOVERY?

Stocks Surge After Jobless Claims Fall (REUTERS, 10/9/03)

Stocks popped at Thursday's open after solid earnings news from companies like Yahoo Inc. (YHOO.O) and an unexpectedly big drop in weekly jobless claims boosted expectations an economic recovery is in the works.
Stocks go up on good news.

Posted by David Cohen at October 9, 2003 10:58 AM
Comments

HOW DO WE KNOW WE'RE IN THE EARLY STAGES OF A RECOVERY?

When all Democrat and Liberal punters (and pundints) finally cover their shorts in the stock market and have no money left to finance Howard Dean...

Posted by: MG at October 9, 2003 12:17 PM

Eh, I can't say the figures back up the recovery theory.

House refinancing and hedonic adjustments are skewing the bigger picture.

Posted by: M Ali Choudhury at October 9, 2003 3:28 PM

Econopundit links say that copper futures are at their highest in 2 years. Manufacturing is going up.

Bob Brinker, however, still says buy at S&P 810.

Posted by: Sandy p. at October 9, 2003 10:44 PM

Too bad we can't use Ronald Reagan's classic formulation anymore:

A recession is when your neighbor loses his job.

A depression is when _you_ lose your job.

Recovery is when Jimmy Carter loses his job.

Posted by: Joe at October 10, 2003 8:26 PM

Don't hedonistic adjustments cover much of what we call the economy these days?

Posted by: jim hamlen at October 10, 2003 11:46 PM
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