• Tue, Feb 21 2012

What To Wear Now That The Dow Has Hit 13,000

working girl dow 13000

Oh my God, we’re finally going to get to stop prefacing every discussion of the economy with “in these difficult economic times.”

Maybe! Maybe. The Dow just hit 13,000, which it hasn’t done since May of 2008 (back when Lehman Brothers was still a thing that existed). So, since before the recession. The surge is thought to be because of optimism about the economy and strong corporate earning reports at home, as well as the recent Greek bailout deal. And The Wall Street Journal says “basically, 13000 is now nothing more than a mile marker on the Dow’s road higher. ” If nothing else, this means that people are once again feeling optimistic about the economy.

We should probably wait a while to see if the rally has staying power, but, fuck that. Go tell your cousin who has been looking for a job since they graduated in 2009 that there might be some, again, someday, far in the future. For now, here’s some stuff you should wear. And here is a song.

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  • MR

    Yeah, it’s in another zig from the last zag, that is the marked has been bouncing around sidewards in about a 1% range since Feb 3, but is at its highest level in that range – the Dow is back at roughly 12940 at the moment. Yep, overall the stock market is up 12% since mid December. So yes, things have been moving in the right direction. So Jennifer, you think it’s got more jets, huh? :) I’m always patient and gage the developments carefully.

    • MR

      Jennifer, I hope I didn’t burst your balloon – the economy is getting stronger. Politics aside, which one do you favor? I’m buying the Obama t-shirt: To Santorum, if he pulls it off: ‘Bring It On!’. Seal’s song. :)

      http://www.youtube.com/watch?v=-Wl_FsEc_Gk

  • commenter

    @MR- keep drinking the kool-aid you moron.

    • MR

      What does that mean, you’re for Santorum? Or is it you don’t like the unemployment rate at 8.3% now vs close to 10% in December 2010? Granted the economy still has a long way to go.

  • MR

    Looks like today’s the day, Jennifer. Futures point to the Dow clearing 1300o early today, and if data on US economy comes in good, it will hold and not fall back this time. Just so you know a better overall gage of US stock market performance is the S&P 500 index. Also, just to put current market flow of events into perspective, the overall stock market climbed 11% from mid December to Feb 3, that’s within just 6 weeks time. As of yesterday it has only climbed an additional 1.5% since Feb 3, that’s within 3 weeks time – what I mean by my sidewards comment. Over the last six months I’ve only had one better ride before the 6 week ride above, and that was during the first 4 weeks of last October. The market climbed over 13% in that investment flow. Yeah, Jamie is going to kill me.

    • MR

      Yes Jennifer! Finally!! On a side note though, the S&P 500 index – again a better benchmark of overall stock market performance – has climbed almost 0.7% over the last week. So yeah, things have been up, even though the Dow hasn’t said so. And that 0.7% is still a nice rate of return, though it might not seem so – aka a 36.4% growth rate annualized.