Dow Jones average hits highest mark since '07
Source: AP-Excite
By MATTHEW CRAFT
NEW YORK (AP) - The fastest growth in U.S. manufacturing in 10 months gave stocks a lift Tuesday and pushed the Dow Jones industrial average to its highest close in more than four years.
Manufacturing expanded last month at the strongest pace since June, according to the Institute for Supply Management. Orders, hiring and production all rose.
A measure of manufacturing employment also reached a nine-month high, a hopeful sign ahead of Friday's monthly jobs report.
The manufacturing news jolted stock indexes out of a morning stupor, although the gains waned throughout the afternoon. The Dow added 65.69 points to 13,279.32, its highest closing mark since Dec. 28, 2007, during the first month of the Great Recession.
Read more: http://apnews.excite.com/article/20120501/D9UG5SB80.html
In a photo made April 16, 2012, trader Robert Arciero works on the floor of the New York Stock Exchange. Wall Street appeared headed for a higher opening Tuesday May 1, 2012 with Dow Jones industrial futures 0.1 percent higher and S&P 500 futures 0.1 percent. (AP Photo/Richard Drew)
onehandle
(51,122 posts)Uh, wait...
OKNancy
(41,832 posts)and the sooner us older folks can retire... and that is good for you younger people.
KoKo
(84,711 posts)It's Good for EVERYONE!
I'm feeling better just reading this.
fasttense
(17,301 posts)Only if a vulture capitalist like Mitt doesn't notice. If he sees that your retirement account, along with your co-workers' accounts, go up and are doing well, he will swoop in borrow against the accounts to buy the business, run it into the ground, declare bankruptcy and use the retirement accounts to pay back the delinquent loans. Then bye-bye retirement accounts and hello soup kitchen.
There are other vultures out there besides Mitt and they are doing this everyday.
OKNancy
(41,832 posts)I have Vanguard Mutual Funds and other Vanguard accounts that I manage and watch after myself.
My accounts are not through an employer.
former9thward
(32,074 posts)Nobody can borrow against your personal retirement account but you. Come back to the real world sometime.
Cronkite
(158 posts)Guess what, it ain't a real good thing. The Federal reserve has been increasing the money supply in an effort to somehow inflate housing. This attempt has FAILED and will never work because those assets were already way overpriced.
While it may seem wonderful that stocks have rode the wave of increased money supply it SUCKS to be a poor person that is not an "investor" but rather a consumer of assets. Did you notice the increase in the price at the pump? How about the increase in beef prices at the grocery? The poor do not invest in assets and thereby participate in asset inflation, the poor PAY FOR the increased asset value out of an ever declining rate of pay.
It sickens me to see the propaganda saying "speculators" are to blame for higher gas prices. It is a direct result of government policy. Period. End of story.
JoePhilly
(27,787 posts)about it during the last couple weeks.
Fox News was PRAYING for a $5 or $6 gas price.
A spike around May is pretty normal.
And if you care about income, tell everyone you know to stop voting for Republicans who do everything they can to depress wages.
Cronkite
(158 posts)The higher asset prices are not the result of an improving economy, it is due to "quantitative easing" and the way this "easing" (aka money pump) is injected into the economy. The money IS NOT making its way to "main street", it is being used by those with access to the federal reserve discount window to speculate in the markets.
BTW- Your statement about Fox "news" is the reason I no longer watch television. They do not "report" the news, they attempt to tell people what to think. This applies to every so called "News" organization in the United States. ABC,CBS,NBC,CNN ALL have agendas and are no longer capable of pure reporting, they all attempt to "spin" stories in order to influence opinions.
I admit I have an antenna up and will watch the PBS news hour (along with a very short list of PBS programming) but I have no reason to sit in front of a television while some jackass TELLS me what to think.
Fumesucker
(45,851 posts)Get many perspectives on every single piece, if there's obvious bias someone usually catches it if I don't.
DU is not the only place I get news but it's one of my prime sources, sometimes LBN is well ahead of the national news organizations, there are a lot of posters looking for interesting stuff and it makes for an eclectic mix I find really informative.
Add in E&E and Science and some of the smaller forums/groups and there's far more here than there is on any amount of cable n00z and the commentary is infinitely more intelligent and informed.
Fumesucker
(45,851 posts)I didn't realize you were new at first, like your handle.
former9thward
(32,074 posts)New orders for U.S. factory goods in March recorded their biggest decline in three years as demand for transportation equipment and a range of other goods slumped, government data showed on Wednesday.
http://www.cnbc.com/id/47262178