Stocks Bounce Back Amid Obama Buzz

[sabra]

Source: CNBC

Stocks turned higher Monday following news that President Obama will hold a press conference on the economy tomorrow.

The president is expected to talk about how the administration's recession-busting actions fit into his broader plan to get the economy back on track, and what still needs to be done.

There was already some bargain hunting in progress and the move seemed to trigger a new wave of buy programs that pushed major indexes into positive territory.

Read more: http://www.cnbc.com/id/30195002

[YOY]

1. Marvy. Now about those jobs.

Yeah, I know, first things first.

[stillcool]

3. Do you mean job creation by the budget bill..

or the stimulus package..or something else?

[YOY]

4. Anything...we need to get a large amount of the unemployed back to work.

Althought interconnected with the market on levels it is far more important.

[stillcool]

6. Isn't that what the budget bill is about?

how else do you create more jobs?

[YOY]

7. A-yup. That's why I said "Yeah I know, first things first" in my first post.

I just really feel for those who are in a bad way right now and I worry about myself should things get bad enough.

I still feel that we need to invest in emerging technologies to make sure that we cash in on a few NEW industries instead of milking a few old.

[No Elephants]

19. FDR did it differently.

[biopowertoday]

5. Yeah, those trickle down jobs are acoming.......

gotta fed the big boys and gals first.

[stillcool]

8. If the bailout was done in October...

to halt a banking crisis...and the stimulus package was reduced..because it was too big, but already has helped..and the budget bill hasn't been passed yet..where are you looking for these jobs to 'trickle down' from?

[biopowertoday]

13. I am not

actually looking for them. I think it will be a long long time for substantial jobs to reopen.

[damntexdem]

11. Maybe two press conferences a day?

Think that would extend to jobs?

[YOY]

12. That's not really what I meant.

n.t.

[Odin2005]

16. Unemployment is a lagging indicator.

[question everything]

2. But.. but... I thought that everytime Obama speaks

the market tumbles

At least, this is what an idiot RWers coworker has been saying, while calling the few of us who admit to voting for Obama "comrades."

[tomm2thumbs]

9. haahha that's true - they don't know WHAT they think. GOP still wandering aimlessly

[acmavm]

10. IT'S NOT THE STOCK MARKET!!! Dammit they are doing the same damn

shit. They are tying the state of the economy to the frigging stock market.

Yep, the stock market told us how fucked we were these past few years, didn't it? Oh wait, no. We found out how bankrupt the economy was when we had to start paying off wall street's gambling debts.

[paparush]

17. I would K&R this comment if I could.

[No Elephants]

20. Me,, too.

[eridani]

14. Goody. Let's have another bubble!

Bring on the hydrogen! Happy happy joy joy!

Now, what about the real economy? You know, making stuff and selling it, providing real services, etc.

[soryang]

15. 401k still down more than 50 percent

bounceback? that's a catchy word, isn't it?

[paparush]

18. My Fellow Americans, at this moment federal agents are seizing the assets of America's 10 largest

banks. I am taking this step to protect the future and welfare of this country and her citizens. These banks are unalterably insolvent and I will pour no more of our future into these bottomless pits.

Now THAT would be an opening!

[No Elephants]

21. The stock market rising or falling on the basis of an announcement about a press conference is NOT a

good sign. It's a sign of insane, desperate volatility, not of economic recovery.