Wall Street rallies on jobs, worker productivity data (9/11, companies, dollar)

[dukester.2]

Wall Steet rallied Thursday afternoon after better-than-expected economic data on the labor market and worker productivity lifted stocks.

The Dow Jones industrial average (http://financial.washingtonpost.com/custom/wpost/html-qcn.asp?dispnav=business&symb=DJI&nav=el - broken link), an index of 30 blue-chip stocks, inched toward its benchmark level of 10,000 after languishing for more than two weeks. It was up 1.7 percent, or 165 points, to about 9963.

washingtonpost.com

[coastalrap]

This is actually good news!

And a good reason why we need a recession every few years and why it's a bad idea for the gubmint to try to "protect us" from a natural business cycle. Companies are learning how to be more productive with less people. Something you will never find in a union shop by the way.

[wdavid002]

Have you seen the debt and deficit lately, and the devaluing of the dollar?? People need to look at the big picture.

[Chango]

Originally Posted by wdavid002

Have you seen the debt and deficit lately, and the devaluing of the dollar?? People need to look at the big picture.

YouTube - Pay no attention to that man behind the curtain.

'nuff said.

[floridasandy]

once again, wall street goes UP when the dollar goes DOWN. (good for some, but not good for many). also note, dollar down equals oil up, and dollar down equals gold up.

[summers73]

Many middle class folks cashed out their 401(k) when the panic started, or went into bonds for safety. They didn't take advantage of the upswing. But the rich oligarchs gladly bought up their depressed shares. We'll rinse and repeat next year.