March 23, 2006

THIS IS WHAT IT LOOKS LIKE WHEN THE DOVE TAILS:

Dovetailing of good news has Dow flying high (Chicago Sun-Times, March 23, 2006)

The Dow Jones Industrial Average rose to its highest level in almost five years Wednesday as an improved outlook for corporate earnings pushed auto and drug stocks higher.

Upbeat news from big companies: a patent settlement by Bristol-Myers Squibb, strong earnings from Morgan Stanley and a cost-cutting deal between General Motors Corp., Delphi Corp. and the United Auto Workers bolstered investor confidence.

"We have felt all along profits would come in better than expected" in 2006, said Keith Wirtz, chief investment officer at Fifth Third Asset Management in Cincinnati. [...]

The Dow rose 81.96, or 0.73 percent, to 11,317.43, its highest level since May 21, 2001, when it reached 11,337.92.

Broader stock indicators were higher. The S&P 500 index rose 7.81, or 0.6 percent, to 1,305.04, and the tech-heavy Nasdaq composite index rose 9.12, or 0.4 percent, to 2,303.35.


Remind us again how Democrats ride a tidal wave of unrest when economic conditions are so favorable for incumbents?

Posted by Orrin Judd at March 23, 2006 9:05 AM
Comments

In the bad old days when the news didn't get past the gate keepers. Thank you so much Mr. Gore for inventing the internet so we can all be as well informed as the NYT editorial board.

Posted by: erp at March 23, 2006 9:29 AM

I agree with your premise but Bush is polling poorly on the economy and there is a sizable group that,when polled, say the economoy is lousy. Perhaps it will just take some time for people to realize what is actually going on.

Posted by: AWW at March 23, 2006 11:06 AM

Sometime before the election the stock market will achieve its Highest Mark Ever. The MSM won't be able to totally suppress that information, although they'll try their hardest.

Posted by: b at March 23, 2006 12:32 PM

b: They'll LOVE it >> "Deja Vu?" "Is it ANOTHER bubble about to burst?" "With record deficits and the fourth consecutive increase in the allowable debt ceiling by Congress, some fear the recent all time highs in the stockmarket mean . . . . blah blah blah" "The markets are now higher than they were in 2000, immediately preceeding the worst bear market in....blah blah blah........shareholders watched in horror as $XXX Trillion of value evaporated in 24 short months.....etc. etc. etc."

Posted by: John Resnick at March 23, 2006 12:44 PM

What is the historic high of the DOW? Is it the 11,337.92 of May 2001?

Posted by: pchuck at March 23, 2006 1:34 PM

I've noticed when good news can't be ignored, there's always something negative tagged on, lately, it's something like, "but how long can it be sustained"?

Maybe the October surprise this year will be a 12,000 point stock market and gas under $2.00?

Posted by: erp at March 23, 2006 2:53 PM

As someone pointed out awhile ago, the MSM's losing their jobs and they are reflecting their situation.

Posted by: Sandy p at March 23, 2006 6:10 PM

Pchuck - I believe the all-time high is 11,773 reached in 2000.

Erp - one would hope a Dow of 12,000 would be good news for the GOP and Bush in the fall.

Posted by: AWW at March 23, 2006 8:57 PM
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