US Stocks Hit 15-Month Closing Highs Despite Jobs Data

[denem]

Source: WSJ


NEW YORK (Dow Jones)--U.S. stocks closed slightly higher Friday despite the federal government's report of a bigger-than-expected job loss in December as well as analysts' ratings downgrades that hurt Coca-Cola and Boeing. Industrial stocks including Caterpillar climbed as U.S. wholesale inventories unexpectedly surged and United Parcel Service boosted its fourth-quarter earnings forecast.

The Dow Jones Industrial Average rose 11.33 points, or 0.11%, to 10618.19, reaching a new 15-month high. For the week, it climbed 190.14 points, or 1.82%, marking the first time since 2006 that the Dow rose over the first five sessions of the year...

Friday's stock gains came despite the government's report of more job losses last month than economists had expected, although the report also showed November's figures were revised upward to show a small amount of job growth.

"We are on the razor's edge between recession and recovery, and each report brings us conflicting news," said Rick Lake, portfolio manager of the Aston/Lake Partners LASSO Alternatives Fund.

Read more: http://online.wsj.com/article/BT-CO-20100108-712727.html?mod=WSJ_latestheadlines

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The razor's edge or the bleeding edge?

[Kurt_and_Hunter]

1. Despite? Wall Street is actually kind of fond of unemployment.

They don't want the whole economy to collapse but they love lay-offs and weak labor markets.

[denem]

4. A return to 500,000 losses a month wouldn't go down that well.

Individual companies? Yeah - that 'do more with less' figuring that worked out so well for Rummy in Iraq: Faster, cleaner, cheaper body bags.

[thunder rising]

6. Exacty, job scared worker market creates all kinds of opportunities to cheat labor.

Meanwhile, the greatest flatulate, the boomers, are more than happy to sell the future of the US into slavery to keep their motor homes running.

[SergeStorms]

7. You're kind of........

painting an entire portion of the population with a very broad brush there, aren't you, skippy?

Yeah, I can't wait to sell out the country and everyone in it to keep my motor home running. :eyes:

[Iowa]

9. Another right-wing talking point...

Next this twit will be demanding cuts in Social Security and Medicare.

[Goldstein1984]

2. The market doesn't reflect the reality or the economy of the

working people.

The wealthy are doing well.

The stock market reflects their economy, not ours.

We have people in high places making sure the world is safe for their cronies.

[safeinOhio]

3. More people are buying stocks than

Guns? I think we have a great divide in our country. Are T-baggers getting in on this stock market?

[fascisthunter]

5. I guess we little people should be happy for all investors

investing on Wall Street... NOT!

[NashVegas]

8. Not Despite, BECAUSE

Still not getting it, are they?

Oh wait, WSJ - not exactly all about the facts anymore.

[w4rma]

10. So more of our money is being syphoned to the very wealthy. Okay. Thanks Geithner. (nt)