Dow hits new record

NEW YORK (CNNMoney.com) -- Stocks surged Wednesday afternoon, with the Dow Jones industrial average closing at its highest point ever, the S&P 500 hitting a 5-1/2 year high and the Nasdaq composite rising more than 2 percent.

The Dow industrials (up 117.82 to 11,845.16, Charts) added 1.1 percent, according to early tallies. It hit a record trading high of 11,851.25 during the session, before closing just below that.

On Tuesday, the Dow had ended the session at a record closing high, taking out the record close from January 2000.

The S&P 500 (up 15.31 to 1,349.42, Charts) index climbed 1.2 percent, closing at its highest point since Feb. 2001.
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http://money.cnn.com/2006/10/04/markets/markets_0405/index.htm?postversion=2006100416

Everyone celebrate! We're back where we were 6 years ago...not adjusting for inflation or anything like that...

friends and relatives ... in Belfast! :grr:

the worse things get for the US the higher the market goes. What is that all about?

I invested in the stock market six years ago and was widely diversified, that I have, up until now, made absolutely no gain in the value of my portfolio because my portfolio fairly matches the DJIA's performance.

If I had known what I know now, I would have invested in 2000 in nothing but Aerospace/defense stocks and oil & natural gas stocks and maybe some gold commodities. That way, I would've completely beaten the average.

since Dem Presidents tend to yield better economies.

Forbes has some ratings of ecomonic properity that verify this.

"Not surprisingly, Bill Clinton tops the magazine's prosperity chart. He is followed by two other Democrats – Johnson and Kennedy. The first Republican to show up is Reagan, who comes in fourth. No Democrat finishes lower than seventh (Truman), and the last three spots are all occupied by Republicans (Nixon, Eisenhower and George H.W. Bush). On a scale of one to eleven (one being Bill Clinton, eleven being the elder Bush), Democrats have an average ranking of 3.8, Republicans of 7.8."

http://www.americanprogressaction.org/site/pp.asp?c=klLWJcP7H&b=131769

That probably explains why democrats are better for the stock market too.

DOW SINCE 1901
Republican years Avg. annual change 6.9%
Democratic years Avg. annual change 13.3%
Source: Stock Trader's Almanac 2005

http://www.usatoday.com/money/perfi/columnist/krantz/2005-12-02-presidents_x.htm