U.S. stocks climb along with recovery hopes

[cal04]

Source: MarketWatch

Dow sits within striking distance of level not breached since May

U.S. stocks soared Tuesday, bringing the Dow industrials to within striking distance of 11,000, as U.S. economic data and Japan’s bid to spur its economy energized Wall Street.

“We’re not going to have a double dip, but slow growth. And with interest rates so low, equities is one of the few places to generate returns,” said Jerry Swank, president of Swank Capital.

“The search for yield is going to flow to the equity markets,” said Swank.

On Tuesday, that appeared to be the case, with the Dow Jones Industrial Average climbing 201 points to an intraday high of 10,952.7, fewer than 50 points away from the 11,000 level last breached May 5.

Read more: http://www.marketwatch.com/story/us-stocks-jump-as-bank-of-japan-cuts-rate-2010-10-05?dist=afterbell

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Dow up 193 points, closing at highest level since May 3; AmEx is sole blue-chip decliner

[jschurchin]

1. We are sooooooooooo FUCKED.

Please make sure you give Wall Street what little money you have left. This market is gonna continue up for the next couple of months. Then when they are sure they have taken everything you have, BOOM. Be fools folks and buy stocks.

[Roland99]

2. Hmm...dollar still falling, oil up, gold at a new record *and* stocks are up.

[DBoon]

3. how are stocks adjusted for the decline in the dollar?

I remember Paul Krugman making an argument that the stock "boom" of the Bush II years was smoke and mirrors - stocks were simply maintaining their value in constant dollars.

[Tiras De Carne Seca]

4. Have a look at this.....

http://market-ticker.org/akcs-www?post=168291

[DBoon]

7. exactly

nt

[Matariki]

5. I'm going to start collecting these daily changing headlines

One day it's "Stocks down on recovery woes" and the very next day it's "U.S. stocks climb along with recovery hopes".

This has been going on for months. I understand 'The Market' is irrational - but do writers of news headlines have to be so oblivious to what they published only 24 hours ago?

[TheWatcher]

6. It's a good thing the Stock Market is the Economy, so our endless prosperity

is all but assured.

Makes me feel so much better about the continued devaluation of the Dollar.

http://quotes.ino.com/chart/?s=NYBOT_DX

Since the Golden Calf Computerized Casino is the only economic gauge that matters, it's a relief that everything else, including jobs are irrelevant.

Oh, Wait.....