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back in black
Posted by: Gravis ()
Date: October 14, 2009 04:05PM

Quote

Dow Jones breaks through 10,000


The Dow Jones Industrial Average has topped the 10,000 mark for the first time in a year.

World markets were boosted by the news that US bank JP Morgan Chase reported a better-than-expected profit in the July-to-September quarter.

The Dow rose 150.54 points to 10,021.6 - its highest level since October 2008 - in afternoon trading in New York.

Earlier, European markets had also closed higher, with banking stocks leading the way up.

London's FTSE 100 had risen 2% to close at 5,256.1, while France's Cac 40 index and Germany's Dax both also saw gains of more than 2%.

Banking stocks were among the top risers, with Barclays up 6.6%, Societe Generale climbing 4.7% and Deutsche Bank adding 4.2%.

Analysts said the rise in the Dow could encourage more investors into the market.

"Dow 10,000 may be largely psychological, but with tremendous levels of cash on the sidelines this may still be a call to action for investors," said Lawrence Glazer from Mayflower Advisors in Boston.

JP Morgan Chase is the first big US bank to report third quarter results, with Goldman Sachs and Citigroup on Thursday and Bank of America on Friday.

The second-biggest US bank made a net income of $3.6bn (£2.5bn), compared with $527m in the same period of 2008.

Strong performance in its investment banking division cancelled out losses on credit cards and consumer loans.


"the wisdom of the wise will perish, the intelligence of the intelligent will vanish."095042938540

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Re: back in black
Posted by: MrMephisto ()
Date: October 14, 2009 04:10PM

This is all Obama's fault or doing, depending on how you feel about the guy.

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13 4826 0948 82695 25847. Yes.

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Re: back in black
Posted by: Czar ()
Date: October 14, 2009 04:57PM

does obama really have anything to do with the Dow Jones?

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Re: back in black
Posted by: MrMephisto ()
Date: October 14, 2009 05:10PM

Czar Wrote:
-------------------------------------------------------
> does obama really have anything to do with the Dow
> Jones?

The president has the power to authorize a covert operation to have foreign-born terrorists infiltrate airplanes and fly into our Good Christian Landmarks. The Dow Jones is child's play to one such as he.

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13 4826 0948 82695 25847. Yes.

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Re: back in black
Posted by: fairfaxdude ()
Date: October 14, 2009 05:21PM

According to Glenn Beck, Dow "Van" Jones has only 2 degrees of separation from Obama. Well, if its not him, I'm sure they're related. Or something.

(This is hilarious, madcap shit. Only watch it if you're bored though. Fair warning, there are no Becksian tears. Damn.)



______________________________________________
I have had to change the addresses to my retaliatory blogs over half a dozen times.

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Re: back in black
Posted by: 4200cc ()
Date: October 14, 2009 09:12PM

Registered Voter doesn't comment, he wouldn't want to piss his bf gravis off.

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Re: back in black
Posted by: To Sir with Love ()
Date: October 14, 2009 09:17PM

Nice, but let's see where we are in January.

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Re: back in black
Posted by: ThePackLeader ()
Date: October 15, 2009 01:22AM

We are still losing jobs though. Unless GDP Growth exceeds 3%, there will not be any decline in Unemployment.

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