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.
Via a Fox Biz news alert or three:
New claims for U.S. unemployment benefits fell to 335,000 last week -- the lowest level since January 2008 -- from an upwardly revised 372,000 the week prior. Claims were expected to fall to 365,000 from an initially reported 371,000.
U.S. housing starts jumped 12.1% in December from November to an annualized 954,000-unit rate, the highest rate since June 2008. Permits rose 0.3% to an annualized rate of 903,000 units.
BREAKING MARKET NEWS: Data Spark Rally on Wall Street; Stocks at Five-Year Highs
If only those inept Democrats weren't in office, we'd see some upward movement in the economy, dammit!
(Reuters)-- S&P 500 finishes its second-best week of the year. [...]
The Dow Jones industrial average gained 172.79 points, or 1.35 percent, to 13,009.68. The Standard & Poor's 500 Index rose 18.12 points, or 1.30 percent, to 1,409.15. The Nasdaq Composite Index climbed 40.30 points, or 1.38 percent, to 2,966.85.
That was today's Quickie. Was it good for you?
I got a few upbeat email alerts today from Fox Biz. Blame Obama:
The Conference Board's index of U.S. consumer confidence rose to 72.2 in October from a downwardly revised 68.4 in September. The results missed estimates of a reading of 72.5, but marked the index's highest level since February 2008.
The Institute for Supply Management Manufacturing PMI gauge rose to 51.7 in October from 51.5 in September, the highest reading since May. The index was expected to fall to 51.2. Readings above 50 indicate expansion while those below indicate contraction.
Several upbeat reports on the American and Chinese economies, coupled with strong earnings from oil behemoth ExxonMobil, are sending stocks zooming higher. The Dow is up 138 points, or 1.1%, while the broader S&P 500 is up 0.84%. Nine of ten S&P 500 sectors are in the green, led by industrial, technology and telecommunications stocks.
Full market update: http://www.foxbusiness.com/
And here's more from CNN:
NEW YORK (CNNMoney) -- Private sector hiring jumped in October, according to a report released Thursday by payroll processor ADP.
Private employers added 158,000 jobs in the month, ADP (ADP, Fortune 500) said, beating economists' forecasts of 143,000.
The October report is the first to feature ADP's new methodology aimed at further aligning its figures with the final monthly data released by the Bureau of Labor Statistics. The ADP report comes out a day before the government's official monthly job report, though it has not always been a great predictor of what the BLS report will say.
Yeah, wonder if it'll be any better than the rally President Obama being in office these past four years has made... Via MM.
The system is stacked towards those with the least scruples.
July 10 (Reuters) - If the ancient Greek philosopher Diogenes were to go out with his lantern in search of an honest many today, a survey of Wall Street executives on workplace conduct suggests he might have to look elsewhere.
A quarter of Wall Street executives see wrongdoing as a key to success, according to a survey by whistleblower law firm Labaton Sucharow released on Tuesday.
In a survey of 500 senior executives in the United States and the UK, 26 percent of respondents said they had observed or had firsthand knowledge of wrongdoing in the workplace, while 24 percent said they believed financial services professionals may need to engage in unethical or illegal conduct to be successful.
Sixteen percent of respondents said they would commit insider trading if they could get away with it, according to Labaton Sucharow. And 30 percent said their compensation plans created pressure to compromise ethical standards or violate the law.
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