Dow Jones Industrial Average Closes At Highest Level Since Before Crisis

-- STRONG RISE: U.S. stocks rose to multi-year highs on Monday after a positive report on U.S. manufacturing. The Institute for Supply Management said that its survey of manufacturing executives rose strongly last month as hiring and output increased.

BIG HIGHS: The Standard & Poor's 500 index rose to 1,419.04, its highest close since May 19, 2008. The Dow Jones industrial average finished at 13,264.49, its best since Dec. 31, 2007.

MIXED BACKDROP: Stocks had opened lower after Chinese and European manufacturing indexes slipped. Unemployment in Europe hit its highest level since the euro was launched. And construction spending in the U.S. declined sharply in February as builders slowed down.

Comments

[Jonke]

11:19 AM on 04/04/2012

The Obama that the Praisers were saying was so great Monday seems to have done his job well. Exactly as I said, he gave one one his speeches attacting the rich and business and caused a massive sell off. He does it every time. Or is it that he was resonsible for the market being up so much Monday, and today it's Bush's fault? It has to be someone else's fault right? You worshippers need to understand that the market fluctuates. It did the same thing last week.. All he, Bernanke, and Congress do is hurt the market.

[hollyann1963]

07:43 PM on 04/03/2012

The only way I would sell would be if, God forbid a republican managed to some how get the presidency. If you look back in history the market goes down with republican presidents in office.

[rolavine]

04:15 PM on 04/03/2012

Where did the money come from
Where does the money come from?

The market is above the point,
it fell after Lehman's fate,
while our houses fall still lower,
than they were in 2008.

It seems a simple case of theft,
class warefare at it's best,
Plebs whatever wealth you hold
will feather Patricians nests.

[jtmuskie]

04:09 PM on 04/03/2012

As I said yesterday - up today, down tomorrow.....

[kevmi16]

03:29 PM on 04/03/2012

Business will ride the wave till the end of the year and bail out of the market to take profits before all the Obama taxes go up in 2013.

[stuart100s]

06:23 PM on 04/03/2012

I don't know about others, but I am selling my winners now while taxes are low, waiting for the tax increase to sell my losses. Gonna use my losses to offset income and get a refund just as O' thinks he is going to get a windfall from his tax increase. LOL - saving up my depreciation expense as well. Going to see if I can lose money and get on some of them gov't programs coming down the line in the next few years. Ya'll vote for O' to kick the can down the road, ya hear.

[kevmi16]

03:22 PM on 04/03/2012

Obama was on TV today, market down 95, When Obama speaks, people SELL.

[aearthling59]

02:45 PM on 04/03/2012

Most people are investing in stocks in companies outside US

[myline2]

02:49 PM on 04/03/2012

Really? How, then, are US stocks going thru the roof...since it's all about investing.

[aearthling59]

02:55 PM on 04/03/2012

ever hear of twin plants?

[amazin OZ]

02:52 PM on 04/03/2012

thats a foolish statement....making good money of Ford

[Jonke]

02:37 PM on 04/03/2012

My post at 7 AM(about on pge 5 now) has already come true. The Obama got on TV AGAIN today and down goes the market. He should stay in a hole until he is out of office. Megalomaniacs don't do that though.

[myline2]

02:55 PM on 04/03/2012

And, how exactly do you explain all the days it went UP when he went on TV and spoke?

[Jonke]

03:14 PM on 04/03/2012

Easy, that has Never Happened. His message today was to raise taxes for job education. There are no jobs. These same types of programs failed under Reagan and everyother administration that trie them. Wasted a lot of money though.

[stuart100s]

06:27 PM on 04/03/2012

He doesn't like it when the market goes up, he goes on TV and says he's going to raise taxes or cut oil production, or eliminate depreciation for farmers. Anything to keep you from getting one day ahead of the bill collector. When gas is at $9 / gallon and you can't go on vacation, and you are riding the bus to work, that is when his work will be done.

[Tony Moschetti]

02:17 PM on 04/03/2012

"US Stocks Close At Highest Level Since Before Financial Crisis"

And this has translated into real economic growth, increased tax revenues, reductions in the ballooned food stamp rolls, or the long term (more than 27 weeks) unemployment rolls, an increase in the workforce paericipation rates, real unemployment rates of about 9%, exactly how!

The markets have been manipulated by the Fed and the Treasury by pumping trillions into the markets, keeping interest rates artificially low, and LYING about inflation, normally a huge negative for the markets.

One day folks, realism is going to take over, and the markets will find their true level, based on the "OLD" factors, the economy, corporate earnings, interest rates, and inflation!

[myline2]

03:02 PM on 04/03/2012

I'm sorry, but you are clueless. US Corporations,2 yrs in a row, have reported their highest profits in Recorded History. For 22 months we have had positive job growth -- adding 3.9 million private sector jobs.The Treasury cannot spend a dime w/o congressional approval & the Fed is not buying stocks. "Real UE" is being reported the same way it was reported under Bush & Reagan. Try not to root for failure -- it's unpatriotic.

[c0astalgreens]

02:06 PM on 04/03/2012

What do you expect when dollars are devalued and inflation is rising ? Of course the US economy gets better ? This is due to Obama's genius solution of wise spending to put America back its feet. Inflation brings down imports when goods become expensive while exports rise because US goods become cheaper to other countries, thus create jobs. So, it is fine if pumps are getting expensive because it is a lot better to have jobs to have money to pay for expensive gas than no jobs and no money at all to buy life's necessities. America needs to lower its standard of living inorder for it to resurrect from being burried alive 6feet below the ground due to China's unfair cheap labor that devoured Americans' jobs.

Now that republicans' portfolios are saved and are getting healthy again, it is no wonder that they want to resurrect "GREED". People never learn the simple basic lesson in life that when Greed is in the way, Blessings go away, and Satan gets his way ! Let us not forget that when Bush used Jesus name to get reelected, he betrayed Jesus and cut taxes for the rich. The Twin Towers collapsed after that, and America started to go down to the abyss. Hope now is starting to glitter so putting it down should be the last thing in every american's mind.

[kentblackdog]

02:03 PM on 04/03/2012

Why should not the stocks valued go up, valued in dollars.

Does NOT mean the value of stocks are up to previous levels------it just means the unit of measure is same, not the value of the unit of measure.

Does NOT mean, the unit of measure (the dollars) is worth the same as before the meltdown.

In the real world, the value of the dollars is down allot, and the stock market is not even close to holding the same value it did before the meltdown. (same number of dollars, with dollars being worth much less than before)

Why is the dollar's value down-----just look to the huge increase in debt and the printing of trillions of new dollars for the answer.

Obamanomics at work. Devalue the dollar, so it is worth less and less---to gain more and more power over the people and control more and more of how people run thier lives.

[wtg246]

12:44 PM on 04/03/2012

More oil produced in U.S. than every before.
More building permits issued the last two months than off of last year.
Economists predicted 5% gdp for last year until the gop took the house and stopped all job creation and gop governors cut jobs. The original stimulus was cut by a third by the gop and economists said that was okay, we can adjust at later date. But the gop refused, which left it up to Bernanke. Economists said you don't get near the results that we should have had if the gop had worked with dems to pass more stimulus and job creation. We need to give Obama a house of rep's that will work with him.

[Tony Moschetti]

02:36 PM on 04/03/2012

This site is like being a fly on the wall during group therapy sessions at maximum security insane asylums!

Almost NONE of the oil being produced is IN SPITE of him, not because of him. NONE of thre drilling is being done on federal lands, off our shores, the Contitnental Shelf, or ANWAR, all of which HE has put off limits!

The increased drilling is from the permits he INHERITED from Bush!! The number of drilling permits has been drastically redcuced since he came to town. Here are the numbers from the Bureau of Land Management:

Permist issued 2006-6738, 2007-7124, 2008-6617. Then we got stuck with the clown who thinks oil is the energey soruce of the past. Permits issued 2009-4487, 2010-4490, 2011-4244! Sorry, I know how you deranged liberals hate facts!

And while he lies about oil subsidies, here is the truth about that issue: Wind and solar technologies have been “subsidized since 1978. In 2010 subsidies for solar were $775 per megawatt hr, and $56 for wind, which account for about 4% of our electricity, and $0.64 for coal, which in 2011 accounted for 45% of our electricity.

Despite this, Obama is in the process of using his "unelected" EPA bureaucrats to keep his campaigm promise to "bankrupt" the coal industry.

It's incredible how you fools insist on wearing your ignorance as a badge of "honor!"

[wtg246]

12:31 PM on 04/03/2012

Clinton years: Our 401 K excelled.

Bush years: At the end of the year, worth less than what we contributed that year. Dow hits low of 6500; millions lose retirement funds.

Obama years: Recouped from dow's low of 6500 and making gains once again.

Is this a no brainer or what?

[stuart100s]

06:44 PM on 04/03/2012

Clinton years: information revolution, much like the industrial revolution. My cat used to pick my stocks. He would swat at the symbols going by on the bottom of the screen, didn't matter which one he picked, I made money. You think Clinton was responsible, I think it was my cat. Both are about as likely. Bush years, much like O' he claimed he was handed a can of worms. That Clinton failed to take OSB when offered on a silver platter. He prosecuted two wars, and it turned out that not every internet stock was worth more than general electric. Obama years: made the dollar worth so little that your stocks revived, and if we give him another term, your house will too. A loaf of bread will cost two condos and a new car, but what the heck, let's kick the can down the road a little longer.

[cmcwfc]

12:14 PM on 04/03/2012

Do you really believe Mitt Rommney could do this well? If so I have some ocean front property I would like to sell you.

[stuart100s]

06:46 PM on 04/03/2012

You don't have any ocean front property, you have a mailbox that you walk to once a month to collect your gov't check. Who do you think you are kidding.

[pinkturkeybull]

11:43 AM on 04/03/2012

The big boys are raking it in. Everything is coming up roses. Bonuses all the way around.
How can they lose when main street will bail them out with some welfare? But the little guy feels alot of pain at the pump and elsewhere.