Dow up 100+ and holding.

[MineralMan]

For a variety of reasons, the DJIA jumped over the 13,000 hurdle at the open this morning and is up above 13060 and seems to be leveling there.

On Edit: Pulled link, since DU didn't parse it correctly. You know how to see the chart, anyhow, if it interests you.

[TheWraith]

1. Here's hoping it closes there. nt

[MineralMan]

2. That seems likely, today.

The overall trend is up. Folks seem to be feeling bullish.

Disclaimer: I have absolutely no money invested in the market. It's an indicator only.

[TheWraith]

22. Still holding at 13,067. nt

[Loudmxr]

3. the conservatives are right.. Obama is a failure

For a Marxist(Groucho) Leninist, Kenyan, fascist, communist out to destroy America.. he is not doing a very good job of it.



Our President has been very good to me financially. That is why only a few put money into his opponents campaigns. Do me a favor and let's re elect him.

[Tarheel_Dem]

4. Is this based on Feb consumer spending and/or confidence?

I also heard the other day that we've somehow pretty much insulated ourselves from the Greek debt crisis, and any fallout that may occur. I just remember months ago that economists, on NPR, were on edge because of the possible impact a Greek default would have on our own economy. I admit I don't fully grasp these complicated economic issues, but I wondered how they've gone from near panic, to now saying it won't be nearly as bad as we had predicted?

[MineralMan]

8. I saw reference to increased optimism in Europe,

and less concern about the Fed in one story. I'm not certain, but it appears that the market is a little more optimistic today, for whatever reason. I'm just posting the DJIA as a point of data, for those who are interested. It seems to be a leading indicator of several things, from a historical viewpoint, and a lagging indicator of other things. I just find it interesting, and tend to look at the average from the perspective of a long-term smoothed curve. For some time, that curve has been moving up.

[Tarheel_Dem]

14. I appreciate it. It's such a rollercoaster. But something has got people feeling better.

I know I do.

[MineralMan]

10. I don't know, really.

[MadHound]

5. And this is supposed to mean what, exactly?

All it truly means is that those thirty, count them, thirty corporations are, for various reasons, doing better today than they were yesterday.

Trying to use the DOW as some sort of economic barometer has always been a sucker's game, because the variables that make the DOW rise and fall are far too many and too many are counter-indicative. For instance, if a corporation announces seven thousand layoffs, that usually means that companies DOW price is going to rise, perhaps even skyrocket, since that corporation's cost of doing business went down. But in the real economy, especially in the town(s) where those jobs were lost, an uptick is not a good thing, and can erode at the local, regional, even national economic well being.

All that a hundred point jump means is that the rich got richer, and thirty corporations are doing well. That's it.

[MineralMan]

6. I don't know. What do you think it means?

I posted it as a data point. You're welcome to interpret it in any way you choose. I did not interpret it at all. It is the current state of one measure of the economy. Make of it whatever you will.

[MadHound]

7. Just pointing out that the DOW is useless as any sort of economic measure. n/t

[MineralMan]

9. That depends on how you look at it.

I look at it on a five-year basis, as a smoothed curve. That curve is trending upwards, and has been for some time now. That's a good thing.

I'm not sure why you're taking exception with my posting of this data point, but knock yourself out, I guess.

[MadHound]

11. Please, don't knee jerk on me

I'm not taking exception with your posting of this, I'm simply pointing out that a hundred point swing isn't any sort of reliable economic indicator.

Why are you upset that I'm pointing out that simple fact?

[MineralMan]

12. I made no analysis of it whatever.

I posted the information. Everyone can decide how to think about it.

I'm not upset in any way. You think it's unimportant, and that's just fine with me. I think the over all trend is very important for a number of reasons. After a bit of a dip, the DJIA is continuing a curve that I believe is an indicator of recovery. But, I did not say any of that in my post. I merely posted the data. As you know, I'm not in the least bashful about posting analysis when I think it's warranted. I did not analyze in any way in my OP. I just posted the day's trend.

[eridani]

19. Yep. It sure is wonderful for the 1% n/t

[MineralMan]

21. Yes, yes...

The DJIA is a marker for the economy. One needn't have any money invested or any money at all, for that matter, to look at market numbers to see how the economy seems to be doing. The stock market is up a lot since Obama took office. That is a sign of recovery. I have no money in the market at all, but I do watch this indicator, among others, to see how the general economy is doing, and how confidence levels are faring. That affects my small business of writing web site content for small businesses. If people are confident, they improve their websites and I eat.

It's just a point of data that, when combined with lots of other points of data, point toward a recovering economy. That helps everyone.

[eridani]

23. For the 99%, it's the least relevant indicator

Of course the economy is recovering. The problem is the appalling New Normal that it is recovering TO.

[SmellyFeet]

15. Bullshit! My economy goes up every time the DOW goes up.

It also goes down when the DOW goes down. I'm certainly not rich or anywhere near well off, so it's not just the top corporations or 1% that benefit.

[Nye Bevan]

13. The Russell 1000 Index is also up close to 1% today.

So one thousand, count them, one thousand corporations are doing better today than they were yesterday.

Higher stock prices mean a lower cost of equity capital for companies. In other words, it is easier for them to raise money to expand, which of course creates jobs. The run up in the stock market indicates a huge vote of confidence in Obama's policies.

[eridani]

24. Why would they want to expand? They've had billions of surplus cash on hand for that--

--since a year after the start of the recession. With nearly all the reccovery gains going to the 1%, the only TRUE job creators still don't have the money to spend. With few anticipated customers, why would companies want to produce more? The 2010 census indicated that 48% of American families are either low income or outright poor. That means that half the population has almost no discretionary income.

[Zalatix]

20. It means the Plutocracy is making a killing.

The rest of America? Well, we've got jobs coming back, but they're all low paying bullshit.

Guess what's next? Austerity. Lots of it.

[brooklynite]

16. ...and my Apple stock is up to $562...

C'mon, give me some of that iPad bashing.

[cbdo2007]

17. Do you hold or sell after ipad 3 comes out??

Shoudl be back to the lower 500s by summer....

[brooklynite]

18. Considering I bought it at $4...

...hardly a difference.

Actually what I do is donate 100 shares each year as charitable contributions, which avoids the Capital Gains tax, then buy the shares back.