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S&P 500 Hits New 5-Year High On Housing Boost, Jobless Claims

head of joaquin

head of joaquin

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* Jobless claims fall, housing starts accelerate

* EBay gains after results beat expectations

* Bank of America, Citigroup results weigh on financials

* Dow up 0.8 pct, S&P 500 up 0.7 pct, Nasdaq up 0.7 pct
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S&P 500 Hits New 5-Year High On Housing Boost, Jobless Claims

It will be fun to see how the rightwing noise machine tries to spin this good news into impending doom. If history is a guide, they'll come up with some cretinous theory. The good news (besides the increased signs of economic recovery) is that Americans are basically optimistic people, and the ugly pessimism and dark predictions for our country peddled by the Right, just makes conservatives appear even more out of touch.
 
Best news ive heard all day, other than the nice raise i received!:mrgreen:
 
Its good to know Obama stayed well behaved and the hell out of the way.


head of joaquin said:
S&P 500 Hits New 5-Year High On Housing Boost, Jobless Claims

It will be fun to see how the rightwing noise machine tries to spin this good news into impending doom. If history is a guide, they'll come up with some cretinous theory. The good news (besides the increased signs of economic recovery) is that Americans are basically optimistic people, and the ugly pessimism and dark predictions for our country peddled by the Right, just makes conservatives appear even more out of touch.
Click to expand...
 
head of joaquin said:
S&P 500 Hits New 5-Year High On Housing Boost, Jobless Claims

It will be fun to see how the rightwing noise machine tries to spin this good news into impending doom. If history is a guide, they'll come up with some cretinous theory. The good news (besides the increased signs of economic recovery) is that Americans are basically optimistic people, and the ugly pessimism and dark predictions for our country peddled by the Right, just makes conservatives appear even more out of touch.
Click to expand...

All I will say, it is good news, but the US economy has a long way to go. Housing starts in November were actually revised downward in this report and I wouldn't be surprised if December's numbers revised next month. So take these numbers with a grain of salt. Same with Jobless claims. Jobless claims swing a bit much this time of year due to the holidays. So don't be surprised if you see the next two weeks jobless claims at 360,000 range which would tank that "good" news today.

Btw S&P, DOW and Nasdaq valuation has nothing to do with the economy recovering as we haven't recovered past pre-2008 levels yet here we are at 13,500 on the Dow. Just shy of the peak of 14,066 in Oct 2007.
 
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ex99 said:
Best news ive heard all day, other than the nice raise i received!:mrgreen:
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Hey, congratulations. We've been limping along since the recession, with last year me and my partner talking less in draws than some of my employees. But this year, it's already turned around.
 
ReformCollege said:
Its good to know Obama stayed well behaved and the hell out of the way.
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We have obamaphobia liftoff!

I could have sworn Obama raised taxes on the top bracket -- and the DOW has skyrocketed. So much for another discredited rightwing meme.
 
ReformCollege said:
Its good to know Obama stayed well behaved and the hell out of the way.
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Well, if a president gets the blame for a bad market, he also gets the credit for a good one. Certainly, two well mannered gentleman can agree hypocracy does not advance any debate.

I was looking at my Vanguard investments today. They came in the mail. They bottomed out in 2008. They have been kicking butt since.

Personally, I do not credit Obama for the increase in my personal investments. Not anymore than I blame Bush for my stock losses when he was at the helm. Because I really don't think the oval office has that much control over them.

To think otherwise, I would certainly have to curse Bush and kiss Obama's butt. I mean, if the president gets the blame/credit and all.

Here's who I credit. ME! I worked hard for the money I stuck in market. I took it up the ass during the hard times. I stuck it out. I kept working harder and harder and putting more and more back for my rainy day. Now, I reap what I sowed. Screw a president. I never met a single president I thought cared two hoots about my retirement and quality of living. GOP or democrat.
 
head of joaquin said:
We have obamaphobia liftoff!

I could have sworn Obama raised taxes on the top bracket -- and the DOW has skyrocketed. So much for another discredited rightwing meme.
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And it just keeps coming. LOL!
 
Fannie and Freddie are now making loans without appraisals and housing is going wild here in Las Vegas. Prices are increasing daily. Buyers are flooding the market.

Anything familiar about this?
 
head of joaquin said:
Hey, congratulations. We've been limping along since the recession, with last year me and my partner talking less in draws than some of my employees. But this year, it's already turned around.
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Oh, he's using capitalism to get ahead. Quick stop him before he's labeled a conservative. Obviously he's not paying his fair share in taxes.
 
Captain America said:
Well, if a president gets the blame for a bad market, he also gets the credit for a good one. Certainly, two well mannered gentleman can agree hypocracy does not advance any debate.

I was looking at my Vanguard investments today. They came in the mail. They bottomed out in 2008. They have been kicking butt since.

Personally, I do not credit Obama for the increase in my personal investments. Not anymore than I blame Bush for my stock losses when he was at the helm. Because I really don't think the oval office has that much control over them.

To think otherwise, I would certainly have to curse Bush and kiss Obama's butt. I mean, if the president gets the blame/credit and all.

Here's who I credit. ME! I worked hard for the money I stuck in market. I took it up the ass during the hard times. I stuck it out. I kept working harder and harder and putting more and more back for my rainy day. Now, I reap what I sowed. Screw a president. I never met a single president I thought cared two hoots about my retirement and quality of living. GOP or democrat.
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I only blame him for the policies he sets forth, not the market as a whole. He has no control over what is happening in Europe or the DOW. He however, does have control over whether or not we repeal the 2.3% sales tax on medical equipment that could slash margins in half and send medical manufacturing jobs overseas. I do blame him for that.
 
American said:
Oh, he's using capitalism to get ahead. Quick stop him before he's labeled a conservative. Obviously he's not paying his fair share in taxes.
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Pssst: this thread isn't about me, fascinating though I am. It's about Obama's policies. But I don't need to wonder why you don't want to discuss them. They're succeeding!

NEXT!
 
head of joaquin said:
We have obamaphobia liftoff!

I could have sworn Obama raised taxes on the top bracket -- and the DOW has skyrocketed. So much for another discredited rightwing meme.
Click to expand...

Skyrocketed eh? No, what happened was all the people who took their money out of the market in fear of the "fiscal cliff" put their money back in the market when a deal was reached. What was actually in the deal had nothing to do with it.
 
head of joaquin said:
Pssst: this thread isn't about me, fascinating though I am. It's about Obama's policies. But I don't need to wonder why you don't want to discuss them. They're succeeding!

NEXT!
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Self-absorbed much?
 
ReformCollege said:
I only blame him for the policies he sets forth, not the market as a whole. He has no control over what is happening in Europe or the DOW. He however, does have control over whether or not we repeal the 2.3% sales tax on medical equipment that could slash margins in half and send medical manufacturing jobs overseas. I do blame him for that.
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It doesn't seem to be hurting medical stocks.

In any case, Obama has raised taxes. The rightwing noise machine claimed it would result in economic armageddon. It hasn't. Quite the contrary. Don't you think you guys should admit you were wrong?
 
head of joaquin said:
Pssst: this thread isn't about me, fascinating though I am. It's about Obama's policies. But I don't need to wonder why you don't want to discuss them. They're succeeding!

NEXT!
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I'm celebrating you as a shining example of what Obama wants in America. Don't shy away from your duty to be an example. :lol:
 
ReformCollege said:
Skyrocketed eh? No, what happened was all the people who took their money out of the market in fear of the "fiscal cliff" put their money back in the market when a deal was reached. What was actually in the deal had nothing to do with it.
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It's the highest in 5 years so your narrative doesn't make sense unless you claim they took the money out before Bush's Meltdown. Which of course they didn't. But nice little story.
 
American said:
I'm celebrating you as a shining example of what Obama wants in America. Don't shy away from your duty to be an example. :lol:
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Shhhh. Calm down. Focus.
 
ReformCollege said:
Self-absorbed much?
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No, that's Sponge Bob Squarepants. But, seriously, the market crashed because of the market, and it is recovering because of the market. Say what you want about Mitt Romney, but he wasn't lying when he said 12 million jobs would be created under his administration. He only BS'd about it being because of him, just like Democrats are BS'ing that the 12 million jobs will be because of Obama. Actually, there WILL be 12 million jobs in the next few years, but Obama, Democrats, Republicans, and the Man in the Moon will have nothing to do with it........ Except to tell tall tales. The market corrected in 2007, and now the correction is over. It's as simple as that.
 
head of joaquin said:
It doesn't seem to be hurting medical stocks.

In any way, Obama has raised taxes. The rightwing noise machine claimed it would result in economic armeggedon. It hasn't. Quite the contrary. Don't you think you guys should admit you were wrong?
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The tax isn't due until Jan 29th. The jury is still out, but indications are that medical device companies are laying off workers in response. Either way, this represents a high tech, high paying market that countries like China are fiercely competing for. I don't understand the logic behind a tax that might hinder one of our best exporting sectors.


Your strawmans ever get stale? The taxes haven't even hit yet. The stock market is up, because they don't have to worry about a long drawn out political fight or the country plunging back into recession. (Perhaps if you knew anything about the stock market besides what you read in article headlines, you would know this.) That doesn't mean the tax increases were a good thing but it also doesn't mean its armeggedon either. Just a step in the wrong direction.
 
danarhea said:
No, that's Sponge Bob Squarepants. But, seriously, the market crashed because of the market, and it is recovering because of the market. Say what you want about Mitt Romney, but he wasn't lying when he said 12 million jobs would be created under his administration. He only BS'd about it being because of him, just like Democrats are BS'ing that the 12 million jobs will be because of Obama. Actually, there WILL be 12 million jobs in the next few years, but Obama, Democrats, Republicans, and the Man in the Moon will have nothing to do with it........ Except to tell tall tales. The market corrected in 2007, and now the correction is over. It's as simple as that.
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Exactly. Markets thrive on predictability. Predictability comes from politicians staying the hell out of the way of the markets.
 
ReformCollege said:
The tax isn't due until Jan 29th. .
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Psssst: stock prices take into consideration near future events that are certain, like a new tax.

So I repeat: it hasn't hurt medical stock prices, which means that your concerns are ill-founded.
 
ReformCollege said:
Exactly. Markets thrive on predictability. Predictability comes from politicians staying the hell out of the way of the markets.
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The tax is predictable. It's passed. Yet, medical stock prices are doing fine. Your analysis is therefore nonsense, a talking point.
 
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