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Still very early in the day to be sure, but SO FAR it's looking like it's going to be yet another HUGE upward day - with the DOW up over 150 points as of a little after 7 am PDT.
"The Census Bureau reported that durable goods orders - an important gauge in measuring manufacturing - rose 3.4% in February, trouncing expectations. Orders were expected to decline 2.5% in February, according to a consensus of estimates from Briefing.com.
The Bureau also revised its figure for January to a decline of 7.3%, from the previously reported decline of 4.5%.
The uptick in durable goods orders comes after a record 6 straight declines.
Also, housing sales - which analysts had expected to be down, were UP and economists are now looking for a turnaround in the general perhaps later this year rather than next year.
Still ugly out there, but more and more it seems that we MAY have reached the bottom and are on the verge of turning back up.
Still very early in the day to be sure, but SO FAR it's looking like it's going to be yet another HUGE upward day - with the DOW up over 150 points as of a little after 7 am PDT.
"The Census Bureau reported that durable goods orders - an important gauge in measuring manufacturing - rose 3.4% in February, trouncing expectations. Orders were expected to decline 2.5% in February, according to a consensus of estimates from Briefing.com.
The Bureau also revised its figure for January to a decline of 7.3%, from the previously reported decline of 4.5%.
The uptick in durable goods orders comes after a record 6 straight declines.
Also, housing sales - which analysts had expected to be down, were UP and economists are now looking for a turnaround in the general perhaps later this year rather than next year.
Still ugly out there, but more and more it seems that we MAY have reached the bottom and are on the verge of turning back up.
I know my 401K is happy.
Ken
why would anyone expect housing sales to be down when the government is giving 1st time homebuyers 8,000 dollars each? everyone would anticipate at least a temporary boost from that....
Still very early in the day to be sure, but SO FAR it's looking like it's going to be yet another HUGE upward day - with the DOW up over 150 points as of a little after 7 am PDT.
"The Census Bureau reported that durable goods orders - an important gauge in measuring manufacturing - rose 3.4% in February, trouncing expectations. Orders were expected to decline 2.5% in February, according to a consensus of estimates from Briefing.com.
The Bureau also revised its figure for January to a decline of 7.3%, from the previously reported decline of 4.5%.
The uptick in durable goods orders comes after a record 6 straight declines.
Also, housing sales - which analysts had expected to be down, were UP and economists are now looking for a turnaround in the general perhaps later this year rather than next year.
Still ugly out there, but more and more it seems that we MAY have reached the bottom and are on the verge of turning back up.
I know my 401K is happy.
Ken
Only a fool would gloat about the stock market being up at 10:18AM.
why would anyone expect housing sales to be down when the government is giving 1st time homebuyers 8,000 dollars each? everyone would anticipate at least a temporary boost from that....
The Michigan housing is so bad, they're going to start giving upto 10k tax credit for home buyers, and that's on top the 8k the gov is giving 1st time home buyers (I believe).
why would anyone expect housing sales to be down when the government is giving 1st time homebuyers 8,000 dollars each? everyone would anticipate at least a temporary boost from that....
Not everyone is eligible for that credit. There is a salary cap of $75K for single $150K for married.
Only a fool would gloat about the stock market being up at 10:18AM.
How about I gloat about the stock market being up 1,200 points in the last couple of weeks - about it being back to within 250 points or so of when Obama first came into office (this coming after countless posts about how Obama was supposedly driving it down )?
Besides, the overall post wasn't just about the stock market, it was about a general recovery of the economy as a whole - which is indeed what seems to be starting to take place - in spite of countless posts that Obama was supposedly driving the country's economy into total collapse - that there would be a rioting in the streets, a new Great Depression, violent revolution and other such idiotic "foaming at the mouth" stupidity.
The fact is, things are going to be just fine folks - despite the wet dreams of the trolls, racists and would-be anarchists on this board. It's going to be rough for a while yet - but that's happened before and it will happen again and life will go one, and when all is said and done, the USA will continue along just fine. There are already many signs of improvement - and others will follow in the coming weeks and months. Not all signs will be positive of course - and the unemployment numbers (which are always the LAST thing to turn positive in any recession) will likely continue to climb for a while yet - but over time there will be more and more positive signs and fewer and fewer negative ones.
That's not exactly what the Obamabashers are hoping for of course - since they are counting on more and more economic bad news so that that the GOP has even the slightest hope of victory in the next Presidential election, but the fact is, good things are starting to happen. We are likely at the recessions' ebb now and over the next 4 years the economy is most probably going to continue to improve more and more - as it has already started to do. Over the last 3 weeks reports have indicated that factory orders are up, home sales are up, and retail sales in many categories are up.
Ken
Last edited by LordBalfor; 03-25-2009 at 10:03 PM..
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Turn about is fair play now that its going up..
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