Stocks surge on Obama speech day

[dobro]

NEW YORK (CNNMoney) — U.S. stocks surged Thursday, with all three major indexes closing at the highest levels in years, as optimistic investors went on a buying spree….

On the domestic front, a handful of reports on unemployment and hiring showed an improvement in the job market. The latest week of jobless claims fell by more than economists had forecast, while companies expanded their payrolls more than expected in July.

Investors hope Thursday’s data is a preview of what the U.S. employment picture looks like with Friday’s monthly jobs report.

“We’ve been seeing incremental improvement in the U.S. economy, and it would be great to get two strong jobs numbers in a row,” said Ablin. (Jack Albin of Harris Bank)

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[DBP]

So how much importance do you attach to stock surges, dobes? Were you aware that the market sometimes also surges on “bad” news?

I agree with you that Obama’s gonna take the prize, but it seems like you’re grasping at straws here. Even if Obama does win, it won’t mean you’re some kind of guru at pegging the markets, or the voters.

Not even if he wins by exactly six points, as you’ve predicted.

But please don’t take this as criticism.

I love an optimist. ;-)

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[2 Much Whine]

I’m thinking perhaps republicans are convinced he’s going to fail so they’re snapping up stocks left and right.

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[JV]

Or Obama is going to do something desperate like QE3 after he sees no post convention bounce.

If all else fails, print more money!

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[waynster]

Between the ECB bond buy back and the job reports this why …..better job report then economist and the teapublicans expected….

http://money.cnn.com/2012/09/06/investing/stocks-markets/index.html?hpt=hp_t3

http://seattletimes.com/html/businesstechnology/2019078391_apeueuropeancentralbank.html

http://money.cnn.com/2012/09/06/news/economy/adp-jobless-claims/index.html?iid=EL

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[Bostonman]

If he can show a few more months of strong private sector job growth its likely enough to win in November. As far as stock prices go there are usually deals out there no matter who is in office if you know where to look.

Of course those stocks are being bought by the rich who will make money off the backs of working people. Right?

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[kootchman]

You KNOW QE3 is coming .. you nailed that one JV. And… while you look at the “surge”… look at the volume… the number of trades. The number of people who are playing, is the measure of confidence. Stock market valuations are as important as home prices… until ya sell em.. it’s all paper profits. Raise those capital gains and you will see a massive sell off… complete with volume surge as investors take profits..before new tax rates increase! You watch as pension funds lose 30 to 40 per cent of their value. The ECB is jsut a variant of QE3 … fluffing money.. injecting money into an economy to soak up debt with no corresponding increase in productive output means inflation to come. we have just switched one lame horse for a gimp donkey…instead of borrowing, we are printing… hoorah!

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[JanS]

stocks up, jobs up, etc., etc., …but heaven forbid it might be because of Obama. Now, if they were down..y’all would be the first to jump in here screaming “Obama is evil! Obama has to go!”…the man can’t win either way, can he. Wow…just wow!!!

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[kootchman]

Stocks up.. what do you think that means JaN? Just curious. It adds not one dime of wealth. It’s paper profits. Good until the next gyration… how are bond yields doing? The more accurate picture of long term economic conditions. The old farts need yield on fixed income securities… you are cheering on a bon fire that is using your SS dollars as fuel. good thinking.

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[JanS]

hey…Kootch…I know that you don’t think much of me..but…go have another drink…

so if the stock market dropped 3000 points tomorrow, you are telling me it wouldn’t mean anything, and you wouldn’t be placing any blame on Obama? Is that what I hear you saying?

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[Smitty]

And the rich get richer.

Damn one percenters!

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[kootchman]

When you learn what stocks are… and what they represent.. I’ll go into it in more detail. I can make a great case that stock prices, not dividend yields are a fundamental problem for our economy… Although, I see a return to dividend yield contributing to valuations as there is no return on Treasury and bond funds. I yawn with market prices.. they mean nothing until it is time to sell. I haven;t had the evening pop yet.. why are you so interested? verrry curious. I can go on bit longer on why stock valuations are so important now… but to connect the dots would take too long and .. I would have to cite them… I can tell you this.. the cool thing about stock valuations is you can build paper value, free from taxation… until you sell them. I am old school.. I like cash generating companies with consistant dividends… it shows a disciplined, well managed company. A good dividend yielding stock is the gift that keeps on giving. See I would never own … say GM stocks. Like you now do. Of course I would blame Obama for a 3000 point drop.. but see here’s the deal… t stock prices are not rising not because business is doing well.. it’s because they are the best option to investing where there are no other returns. It’s the lesser of only bad choices. Lower those corporate tax rates, let American companies bring home foreign earnings so they can declare dividends… which are taxable. You seem to making a lot of comments with a inique Jan twist to infer my taste for Jack is a way to sneak in one of your clumsy ways to denigrate the value of my postings… try something new.. let’s see.. we have “get over yourself” and “have another drink”… you are getting predictable. Or just lonely and want an invite out for a round or two?

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[kootchman]

A bull market rally is when volumes surge… not prices.

BY SHAH GILANI, Capital Wave Strategist, Money Morning

Conventional investing wisdom tells us that when stocks rally on low stock market volume, traders perceive that lack of widespread participation as an indicator of the market’s future vulnerability.

And as torrid as this rally in U.S. stock prices has been, the lack of trading volume has been a consistent cause for concern.

Unfortunately for market bulls, even this well-chronicled concern doesn’t tell the whole story. That’s because U.S. stock market volume is even worse – actually, much worse – than anyone realizes. And this ultra-low stock market volume should be sending up some serious red flags for investors.

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[JV]

JanS so, any idea what any of it means?

It seems that you and dobro think the economy work solely on Obama words as if it is currency! Can you bottle the tears of his crowd fainters and use it as liquid currency? (wait that was in 08). Such depth of thought!

On the frequent “have another drink” comments, JanS, what if kootch stooped to that level with you? Kootch would never say, “Hey Jan, why don’t you go and…”

Just think about it.

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[JanS]

Kootch has called me a naive twit on here. I know where he likes to hang…and maybe some day will drop buy and buy him another. You are condescending as he!!! on here…get over it..:D

and, yes, he would…IMHO…but..we’ll leave that up to him. :D

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[JanS]

lol..lonely, Kootch…no..surrounded by friends…and, besides, am hooked up to this dastardly machine for a while yet :)

and you didn’t answer my question…hehe

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[miws]

Oh hellz yeah.

Saint kootch would never be insulting or condescending to another poster…

Mike

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[JanS]

and…Kootch..if I have offended in any way…I apologize…

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[jamminj]

“It seems that you and dobro think the economy work solely on Obama words as if it is currency!”

nope, but when its down, obama is the first person the gop blame, that’s for sure. hypocrisy at its best.

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[kootchman]

Doing the home dialysis thing now? My equally liberally infected neighbor, does home dialysis.. and he is sooo much more mobile … took his machine and supplies to Burning Man one year. well jammimj… when ya take a trillion dollars, and you use it to reward campaign donors, invest in businesses that have not a whit of a chance to survive except in perpetual subsidy…write over 100,000 pages of regulation from banking to EPA.. when the need was desperate and the engine of growth, small businesses got no helping hand, no attention, no care .. yea, I blame him. He was incapable of listening and learning. He sought only the council of an inner circle who did not advise him well. Too arrogant to believe his intellect was not yet tempered with experience. He lathered and slathered stimulus money for political gain. The needs were economic… not political. He blew a great chance to be an iconic President. But that’s why we can name half a dozen Presidents as “great”.

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[JanS]

no..I still go to the center…have a laptop now. I am putting off the home thing for now, since I have one heart surgery coming up…and have a potential live donor…, Not a good time to take the class..

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[dobro]

Looks like the old Perfesser and his mini-me are ready to school us Dims about the stock market now.But here’s the important line…

“Of course I would blame Obama for a 3000 point drop.”

Well, of course you would! Yer tryin’ to win an election here for Pete’s sake! Sadly tho, it shows the shallow nature of the old Perfesser’s attitude and application of his oh so vast knowledge in a losing cause.

It must make you fellers sad to know the brass ring is so close, gosh, you can almost taste it, but, dagnabbit, Mitt Rmoney brings nothin’ to the table! Where’s Herman Cain when you need him, right?

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[TanDL]

Yep… gas prices go up – curse Obama. Gas prices go down – change the subject or predict a dire rise just around the corner and that will be Obama’s fault. Stocks go down – blame Obama. Stocks go up – change the subject or tell people they really don’t get how bad things are.

Present them with a good repot on employment/jobs and again, we really don’t know how bad things are. We’re naiive and stupid because we dare to celebrate small victories and good news when it arrives. It simply can’t be allowed to be good news, because then they would have to consider the fact that it might be due to Obama’s administration, and they sure can’t admit to that. It’s pathetic, disgusting and completely unpatriotic.

As appalled as I was during the Bush administration, I gave Pres Bush his due when I thought he did good things. The Republicans today don’t even have the chotsky’s to stand behind the man they supported in office for 8 years. They’ve thrown him off the bus and didn’t even mention his name at their convention. What a great bunch of loyal guys.

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[JanS]

oh, and Kman..you would blame him if it tumbled, but if it goes up, it has nothing to do with him…no big deal…

that’s hysterical…

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[kootchman]

It’s not a “good report” it is slightly less miserable than last month.. maybe. Ignore three consecutive months of declining manufacturing… those are jobs too. Ignore the largest 6 month drop in construction spending… both of those were released this week too. when the news is truly good… I will rejoice along with everyone else… cause I made money with Reagan and Clinton.. and I can love a Democrate that makes me money… I surely can. He was thrown off the bus for not fiscal irrepsonsibiity.. what convention were you watch TanDL.. there was a video tribute to both Bush Presidents.. you don’t talk sense. At the very least we have said it.. we had a Republican President that was fiscally irresponsible… now…. you can say you have a Democratic President that is in way over his head …. but you won’t. Loyalty is an earned tribute… not a good character issue. Fealty and loyalty are two different things…

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