Dow Jones crosses 14,000 mark

[CatholicEdHead]

Source: AP

NEW YORK — The Dow Jones industrial average swept past 14,000 for the first time Tuesday, rising on a relatively mild inflation report and better-than-expected profit reports from blue chip names including Coca-Cola Co. and Merrill Lynch & Co.

The stock market's best-known indicator crossed 14,000 in the first half-hour of trading, rising to 14,002.60, having taken just 57 trading days to make the trip from 13,000.

Stocks have risen fairly steadily since the spring amid a continuum of buyout news and evidence that despite higher fuel prices and the ongoing problems in the housing market and mortgage lending industry, consumers are spending and companies remain optimistic about the future. With the Federal Reserve ever vigilant about inflation, any news that prices are rising at a moderate pace has added to the market's momentum, as it did Tuesday.

The release of upbeat earnings reports also reassured a market that had worried that a slowing economy and rising energy prices would slash into corporate profits.

Read more: http://www.startribune.com/535/story/1307490.html

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Well, the Dow is now over 14,000, but how does this really compare to say 2000 with the dollar in freefall right now? Health care premiums are also going up double-digits for employers.

[snappyturtle]

1. I barely understand all this economy talk but it seems to me the

corporations are always "upbeat" and reporting more profits. Who gets the profits? It isn't the workers. Is it just the big wigs and stock holders?

[Purveyor]

2. Oil has been crossing back and forth into $75. bbl also... n/t

[roamer65]

3. 14,000 is pretty much meaningless.

Given that the USD is worth only about 1/2 as much as it was in 2001. When the dollar crisis hits hard, the market will tank anyway.

[L0oniX]

4. It's so nice that they are making big money and we all can go...

work for less money to compete with the 3rd world.

[snappyturtle]

5. Yep, n/t

[onehandle]

6. And the rich get richer. nt

[TheWatcher]

7. And The Serfs Cry.....

So Fucking What?

[Doctor_J]

8. Still behind where * found it in yen, euros, yuan, pounds

yes, the dollar devaluation is taking much of the glow off of this.

[saigon68]

9. Greenback continues descent to record low amid economic concerns

http://www.msnbc.msn.com/id/19683059/

Read it and weep