Dow tops 11,000 for first time since 9/11

NEW YORK - The Dow Jones industrial average closed above 11,000 Monday for the first time since before the 9/11 terrorist attacks, buoyed by a rally that has sent stock prices soaring through the first five sessions of 2006.

Wall Street’s best-known stock indicator last closed above that milestone on June 7, 2001, when it stood at 11,090.74.

http://www.msnbc.msn.com/id/3683270/

N/T

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What a sick joke on Amerikkka.

or pretty much everyone i know.

Someday I'll be even. Heck, maybe someday I'll get a job too!

My own fault.

self-proclaimed gurus who claim they can.

everybody sells in Dec for tax purposes, and then they buy back in Jan. So it's a "false" up-tick. Nothing has really changed. At least, that is how I understand it.

my antiques, and stuff, right??? Right?? Well, why not? Huh?? Oh. The vast majority of people are getting screwed in this economy?? Never mind.

Pretzeldent!!!

:bounce:

Don't I wish we were back 5 years ago!

does that mean another t. attack imminent?

So it has taken 6 years to almost get back to where we were before 9/11, the recession and the 2 wars.

The same people who never, not once, gave Bill Clinton any credit for the economy, I'm sure will be wetting themselves about the "Bush Boom!" now. But that's to be expected when you have an inexperienced, little spoiled child in the White House: expectations are set so low that when he meets them (if he meets them), then all of the Bush babysitters jump up and down and cheer.

The Dow was up an amazing 52.59 points today!! It's historical amazingness!

:grr:

Dividends are taxed at 15% for all income brackets making stocks and attractive investment for the nonworking wealthy. Wages in real dollars are going down as well as benefits now exampled by the IBM ending of its company retirement plan. The courts are the friend of big business and their big business ways.

The playing field is designed for creating after-tax profits and dividends at the expense of the workers standard of living with a tax burden shifted to the working man. Capital is rewarded and work is not so rewarding.

So why shouldn't the stock market go up and why is this supposed to be taken as good news when most people do not own stock anyway?

IMHO, the Fed is making a huge mistake by not continuing the rate hikes. There's a ton of inflation in this economy, a ton. Housing prices, energy, and food are off the charts because this Fed kept interest rates at historically low levels for about three years.

And how much is attributable to offshore sweat shops/slave labor?

5 million more people in poverty since that awesomely incredibly important milestone of an 11,000 Dow back in June wheneveritwas, 2,200+ US military KIA in Iraq, 15,000 maimed, blinded or otherwise seriously injured, at least 35,000 Iraqi civilian dead, nearly 3,000 American civilians dead on 9/11 because President Weaknstupid couldn't be bothered to read his briefings, anthrax killer still on the loose, Osama bin Laden still running around doing his evil little fuck-brained deeds, Americans deeper in debt than ever before, the federal debt expanding at more than $10,500 per SECOND, 30,000 layoffs at Ford coming, 35,000 layoffs already announced at GM, 7,000 and beyond announced at Pfizer, and we're supposed to just sit there and salivate at the sound of the Magic Dowbell.

Dow 11,000 - whoop de fucking doo.

Coincidence?

into recession. I will never recover.

if you lived inside the southern mansions; if you were out in the fields, you didn't really count or matter

than the stock market under Bush.

the dow is the most worthless index. They constantly replace losers with winners in the index

A much better index is the total market index

It's only 30 stocks after all.

S+P 500 a better measure.

are people that dumb?

In reality the market can do quite well, but the economy tank, at least for a while. As companies ship more jobs overseas, their bottom line shows more profits do to cheap labor, but if enough people lose their job or are strapped for cash their buying power drys up. That is when everything will hit the fan, unless the direction is changed

I understand its pretty much stalled?

Even Bush can't completely kill our economy. Not without four more years.

Anyone good with numbers? How does valuation of today's DOW 11,000 compare with 2001?

http://www.x-rates.com/cgi-bin/hlookup.cgi

then it crashed...

ABC's resident consumer advisor Melody Hobson gave a very strong cautionary message this morning about the run up in the stock market, due to her concerns about the potentially damaging effects of inflation on the economy. Although she generally gives sound advice, I was still surprised that she seems to have totally jumped off the market cheerleading bandwagon.