February 14, 2007

THE FED HEARTS US:

Dow Hits New Record after Bernanke Speech: The Fed chief's remarks suggested policymakers may keep interest rates steady. Also in focus: DaimlerChrysler restructuring, retail sales (Marc Hogan, 2/14/07, Business Week)

Stocks rallied Wednesday, with the Dow Jones industrial average reaching a new all-time closing high, as investors cheered Federal Reserve Chairman Ben Bernanke's moderately upbeat testimony to Congress. A big automaker's realignment and some upbeat earnings news helped offset lackluster reports on January retail sales and December business inventories.

On Wednesday, the Dow Jones industrial average rose 87.01 points, or 0.69%, to 12,741,86.

Posted by Orrin Judd at February 14, 2007 6:31 PM
Comments

This convinces me. It's time to elect a Democrat to the White House. (sarcasm)

Posted by: obc at February 14, 2007 9:24 PM

All this and the Democrats have only been back in power a month! Happy days are here again! (more sarcasm)

Posted by: Dave W at February 14, 2007 9:56 PM

I'm confused again. So it's not the worst economy since Herbert Hoover?

Posted by: erp at February 15, 2007 9:49 AM

Erp: Yes it is for those who are working minimum wage jobs, those living in poverty, the under-privileged and the down trodden. (additional sarcasm)

Posted by: Dave W at February 15, 2007 11:06 AM

Yes, but the media still suffers. So the nation must suffer, too.

Posted by: jim hamlen at February 15, 2007 3:32 PM
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