Stocks rise on more signs of growth; Dow tops 11K

[onehandle]

Source: AP

NEW YORK (AP) -- Fresh signs Friday that the economy continues to recover sent the Dow Jones industrial average briefly above the 11,000 mark for the first time in 18 months.

Easing worries about Greece's debt problems also helped push stocks higher Friday.

In the final moments of trading the Dow was up 69.53 or 0.6 percent at 10,996.60, having briefly crossed above 11,000 minutes earlier.

It last moved above 11,000 Sept. 29, 2008.

Read more: http://finance.yahoo.com/news/Stocks-rise-on-more-signs-of-apf-1573771462.html

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It actually closed at 10,997.35

[rfranklin]

1. "Recovery" without jobs is no recovery...

Until something drastic is done to address that problem, I don't really care about what the stock market does. As far as I can see, through my reading, stock prices are going up on low volume with the TBTF banks trading back and forth as if in a game of musical chairs. Watch out when the music stops...

[OllieLotte]

2. I can't disagree.

I fear that the market is reaching a peak as well. This 9 to 10% unemployment thing seems like it might become the norm for a while.

[cbdo2007]

6. Jobs should be the first priority and are the first step of a recovery!!

[joeglow3]

12. Actually, they are the last step

Based on history

[Odin2005]

3. Wall Street is NOT THE ECONOMY! I could not care less about the Dow.

[TheWatcher]

4. I simply do not understand the smug, smarmy celebration over an artificially inflated asset Bubble.

It simply does not make any sense.

It probably wouldn't help to point out to those cheering this on as if it meant something that The Economy was not in good shape EVEN WHEN THE DOW WAS AT 14,000, it's last ATH.

Things were ALREADY falling apart even in those days.

The Media and The Government told us back then RIGHT UP UNTIL THE POINT OF THE COLLAPSE that things were "Robust, Strong, and Getting Stronger."

What does it take to get through to the Public that Wall Street has NOTHING TO DO WITH Main Street?

Enough of this tired false paradigm already.

It has nothing to do with reality.

And this Bubble IS going to collapse AGAIN.

Because there is no fundamental foundation that can sustain or support it.

It. Is. A. SCAM.

Stop falling for it, America.

[neverforget]

5. Damn straight we have another bubble and this "recovery" is doing

nothing for the working class. The wealthy on the other hand, well, it's party time.

[CoffeeCat]

7. Yes, but the DOW stocks are...

...ticking upward because these companies have consistently reported
positive earnings in the last few quarters.

They are selling stuff. These companies are earning more. Someone
is buying their products/services.

That's what boggles me.

Is it possible for the DOW, and the stock market, in general--to surge
and succeed--while the bulk of Americans suffer, lose jobs, lose their
houses and struggle to make ends meet?

Is it possible that the rich and the powerbrokers have figured out a
way to flourish without us? It may sound counter-intuitive. If the
people aren't buying stuff/services, then you wonder how they CAN be
profitable. However, it appears that they may have cracked the code.

I just don't get it anymore...nothing seems to make sense.

[onenote]

8. what evidence do you have that the "bulk" of Americans have lost jobs, houses etc.

A lot of people are suffering. Many are suffering more today than a year ago. Some, however, are suffering less. But the "bulk" of AMericans didn't lose their jobs or their houses (although the bulk of Americans may have seen a signficant decrease in the paper value of their houses).

The job picture has a long way to go. But despite what you might think, people are still buying stuff. ANd apparently, they're beginning to buy more stuff than they did a year ago.

[Zynx]

11. Bubble? A large advance does not always indicate a bubble. Dow 6,500 should never have happened.

That was the result of a fear spasm. The Dow probably should never have fallen much below 9,000 even at the pit of the recession. The mis-pricing of assets can happen both ways, you know.

[Swede]

9. Good news.

[Trey9007]

10. We must not forget

that employment is a lagging economic indicator. Jobs are one of the last things you will see an improvment on. EXpecting exmployment to go down so early in this recovery, is like expecting the impossible. It just doesn't work that way.