With All The Bad News, And Obama's Sobering Press Conferences, Why Is DOW Up?

[Median Democrat]

I have listened to both of Obama's press conferences, and while he is not saying we are facing the next Great Depression, he has been quite a buzzkill with words like, "the economy will get worse, before it gets better," coupled with a recitation of some of the bad economic stats coming out. Heck, separate and apart from Obama's recitation of bad economic news, the MSM has been noting some of the latest bad economic news. Yet, the DOW has been going up since Friday.

What gives? Sure, Obama isn't embellishing and predicting soup lines, but his press conferences have been more sobering than a hot coffee after an evening bar hopping.

[lisa58]

1. Leadership

[MH1]

2. Because people sense that there will finally be an adult in charge

after 8 years of debacle?

:shrug:

[DJ13]

3. Because the top of Obama's economic team are people Wall Street likes

Not sure if thats a comfort or not myself.

[DevonRex]

4. It's refreshing to have a guy in charge who doesn't say the world is great

when everybody else knows it's going to hell in a hand basket. Dubya never acknowledged a mistake, never knew a thing about the economy to begin with, and kept saying everything was just swell until reality was forced on him.

So Obama gives people confidence just by acknowledging there's a problem. That way it can get fixed.

[FrenchieCat]

5. Straight talk in dire times, when the impulse for the same ol, same ol might be

to try to make things look better than they are.

[Lerrad]

6. Just wait and see it will go back down again...

This is not over, and the Dow has not hit bottom yet. It will get worse before it gets better.

Just because it went up today does not mean it will keep going up. One day it is up the next it is down. Don't get your hopes up.

[DBoon]

7. "a random walk on wall street"

price trends are essentially random.

economic pundits try to make sense of day-to-day moves, just as sooth-sayers might read sheep entrails

[The_Casual_Observer]

8. It's a new approach for sure, I suppose they think it will turn around

before it wears thin like it did with Carter.

[msongs]

9. because corporations are getting $1.5 trillion in free money with no accountability? nt

[Median Democrat]

10. Obama Made Reference To Oversight - Shouldn't DOW Go Down?

Also, in reference to the Big Three, Obama said that the auto execs were not prepared. So, it is reasonable that the DOW should have gone down.

[Hekate]

11. Leadership. He is talking to us like we are grownups. Funny how that works. nt

[windbreeze]

12. Keep your eye on it...

because the higher it goes the harder it falls...sorry...I believe the raise is false...but we shall see...wb

[Raineyb]

13. Because the DOW hasn't a damn thing to do with how the real economy is doing

While the rest of us suffers, Wall Street will still go up. How can you expect an entity that goes up when unemployment goes up to be a good barometer of how things are going for working people?

Regards