Archive for rebound

Good economic news... again! Time to impeach! #BlameObama

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economic news recovery

With all the talk of impeachment and GOP lawsuits against President Obama these days, it seemed like a good time to add more fuel to the politically insane fires. Yes, once again we have upbeat economic news. What's a blogger to do? Why, publish the upbeat economic news, of course.

Let's start with a Fox Biz email alert headline, because I know how you rely heavily on every word uttered by Fox, the most reliable name in economic news:

U.S. Economy Grows at 4% Pace in 2Q

What?! Why I oughta. Please proceed, Fox Biz:

The Commerce Department reports the U.S. economy grew at an annualized pace of 4% in the second quarter, beating Wall Street expectations for a 3% rate.

Oh what do they know... Let's see what the big bad "librul media" has to say about all this good economic news. New York Times, I'm talkin' to you:

The United States economy rebounded heartily in the spring after a dismal winter, the Commerce Department reported on Wednesday, growing at an annual rate of 4 percent from April through June and surpassing economists’ expectations.

In its initial estimate for the second quarter, the government cited a major advance in inventories for private businesses, higher government spending at the state and local level and personal consumption spending as chief contributors to growth. Economists, who had been hoping for a full reversal of the first quarter’s decline, were cheered by the second quarter’s numbers. The consensus forecast for G.D.P. was 3 percent.

“Fantastic,” Douglas Handler, chief United States economist for IHS Global Insight Analysis, said of the second-quarter G.D.P. increase. The bigger-than-expected gain further cemented views that the decrease in America’s overall output during the first quarter was most likely a fluke tied in large part to unusually stormy winter weather and other anomalies.

Huhwha? "Higher government spending at the state and local level"?

Read it and weep, impeachers.

curses foiled again

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Dow climbs above 14,000 for first time since Great Recession

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Again, what President is bad for business?

NEW YORK -- The Dow Jones industrial average climbed above 14,000 for the first time since the Great Recession.

The index rose as high as 14,000.97 in early trading. The index last traded above 14,000 in October 2007.

The Dow has gained 6.7 percent since the start of the year.

A budget deal, struck at the start of the year in Washington, that allowed the U.S. to avoid the "fiscal cliff" was the catalyst for a January rally. Investors then pushed stocks higher amid optimism that the housing market is maintaining its recovery and that the jobs market is slowly healing.

The index has more than doubled since falling to close at low of 6,547.05 March, 3, 2009 after the Great Recession.

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Stocks rebound on positive economic news, including... guess whose?

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Hey, good news, right?

Indexes on Wall Street rebounded on Thursday, closing up almost 3 percent, on a day fueled by bargain hunting and a stream of reports reflecting an improving economy.

Asia and European shares were also higher, and the euro regained some ground.

At the close, the Dow Jones industrials average was up 273.28 points, or 2.76 percent, to 10,172.53. The broader Standard & Poor’s 500-stock index rose 2.95 percent, or 31.15 points, to 1,086.84, while the technology-heavy Nasdaq was up 2.77 percent or 59.86 points, to 2,218.71.

Yay!

Not so fast...

Thursday’s rally was broad-based, led by energy shares, BP in particular, which was up 10 percent.

What a relief! If there's one thing BP needs, it's an increased income.

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