Markets End At Record Highs On Strong Job News
Click here for reuse options!For the second straight day, the Dow Jones industrial average and the Standard & Poor’s 500 index closed at record highs — and for the third time this week.
The Dow closed up 87.98 points, 0.5%, to 16,924.09, and the S&P 500 ended up 9 points, 0.4%, to 1949.43. The tech-laden Nasdaq composite finished up 25.17 points, 0.6%, to 4,321.40.
Copyright 2014 Liberaland
By: Cheston Catalano
Cheston Catalano is a Kentucky-based journalist whose work has been featured in the Chattanooga Times Free Press and the Clarksville Leaf Chronicle. He is a long-time contributor to Liberaland.
16 responses to Markets End At Record Highs On Strong Job News
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arc99 June 6th, 2014 at 19:28
This week has been a significant challenge for the right wing noise machine.
A POW returns home and they had to portray it as a blow to freedom. Took some effort, along with feverish erasing of tweets and blog posts, but they got it done.
Total number of jobs in the country is now the highest it has been since the onset of the recession in 2007-2009. Tough to spin that into evidence of imminent catastrophic demise. But, never fear, all those jobs are low wage jobs that contribute nothing to the economy other than people who will still be eligible for food stamps. OK, so another piece of good news translated into terms palatable to the FOX audience.
Then by golly, here comes the stock market closing at record highs. What is the erstwhile right wing spinmeister to do? There are limits to the amount of fiction that even the most dedicated Obama-haters can crank out in a single week. I have very confidence they will come up with some fairy tale to explain why this latest good news is also “proof” of the failures of the Obama administration.
Don’t keep us waiting too long righties. We are all waiting with baited breath to hear what woe and doom awaits us due to that damn Muslim in the White House and the indescribable horrors of record-setting financial markets
arc99 June 6th, 2014 at 19:28
This week has been a significant challenge for the right wing noise machine.
A POW returns home and they had to portray it as a blow to freedom. Took some effort, along with feverish erasing of tweets and blog posts, but they got it done.
Total number of jobs in the country is now the highest it has been since the onset of the recession in 2007-2009. Tough to spin that into evidence of imminent catastrophic demise. But, never fear, all those jobs are low wage jobs that contribute nothing to the economy other than people who will still be eligible for food stamps. OK, so another piece of good news translated into terms palatable to the FOX audience.
Then by golly, here comes the stock market closing at record highs. What is the erstwhile right wing spinmeister to do? There are limits to the amount of fiction that even the most dedicated Obama-haters can crank out in a single week. I have very confidence they will come up with some fairy tale to explain why this latest good news is also “proof” of the failures of the Obama administration.
Don’t keep us waiting too long righties. We are all waiting with baited breath to hear what woe and doom awaits us due to that damn Muslim in the White House and the indescribable horrors of record-setting financial markets
SteveD June 6th, 2014 at 23:39
Seems a while ago, “the market” blew a big fat hole in my 401K. Oh, how we conveniently forget.
The excessive individualism characteristic of capitalism prevents us from acting in species interest. Only governments acting for public purpose have the wider interest ( the general welfare), as an objective. The federal government actually has the means to accomplish it.
Presently, the owners of wealth and private capital seem unwilling or even unable to undertake the needful or innovative unless the risk weighted return justifies the investment.
Now it is simpler and surer to to engage in rent-seeking rather than productive investment.
Much of what is needed that has to do with public utility, public good, and social welfare is not the domain of capitalism anyway. Capitalists are not interested in pursuing this avenue unless significant rent can be extracted.
What’s the remedy? Social democracy, which puts people and the environment in first place, in front of money and machines.
Bob Waas June 25th, 2014 at 15:21
Yea, Social Democracy because that is working so well in places like Greece.
arc99 June 25th, 2014 at 15:36
it is always Greece with you right wingers. meanwhile, in another social democracy, also with universal health care
http://www.ibtimes.com/switzerland-tops-list-worlds-strongest-economies-2012-2013-according-world-economic-forum-1406412
Switzerland Tops A List Of The World’s Strongest Economies Of 2012-2013 According To The World Economic Forum
Bob Waas June 25th, 2014 at 23:32
You can’t compare Switzerland (9 million people) to the United States (316.128.839 million people). Find a country of equal size that has thrived like American while using a socialist system.
arc99 June 26th, 2014 at 00:03
the population of Greece is just under 12 million. Switzerland is no less valid an example other than the fact that Swiss prosperity is an inconvenient truth which flies in the face of right wing talking points.
social democracy does work and can work well if you evaluate all available facts instead of engaging in the intellectually dishonest practice of pretending that only comparisons with much smaller countries which support the right wing point of view are valid.
SteveD June 6th, 2014 at 23:39
Seems a while ago, “the market” blew a big fat hole in my 401K. Oh, how we conveniently forget.
The excessive individualism characteristic of capitalism prevents us from acting in species interest. Only governments acting for public purpose have the wider interest ( the general welfare), as an objective. The federal government actually has the means to accomplish it.
Presently, the owners of wealth and private capital seem unwilling or even unable to undertake the needful or innovative unless the risk weighted return justifies the investment.
Now it is simpler and surer to to engage in rent-seeking rather than productive investment.
Much of what is needed that has to do with public utility, public good, and social welfare is not the domain of capitalism anyway. Capitalists are not interested in pursuing this avenue unless significant rent can be extracted.
What’s the remedy? Social democracy, which puts people and the environment in first place, in front of money and machines.
Bob Waas June 25th, 2014 at 15:21
Yea, Social Democracy because that is working so well in places like Greece.
arc99 June 25th, 2014 at 15:36
it is always Greece with you right wingers. meanwhile, in another social democracy, also with universal health care
http://www.ibtimes.com/switzerland-tops-list-worlds-strongest-economies-2012-2013-according-world-economic-forum-1406412
Switzerland Tops A List Of The World’s Strongest Economies Of 2012-2013 According To The World Economic Forum
Bob Waas June 25th, 2014 at 23:32
You can’t compare Switzerland (9 million people) to the United States (316.128.839 million people). Find a country of equal size that has thrived like American while using a socialist system.
arc99 June 26th, 2014 at 00:03
the population of Greece is just under 12 million. Switzerland is no less valid an example other than the fact that Swiss prosperity is an inconvenient truth which flies in the face of right wing talking points.
social democracy does work and can work well if you evaluate all available facts instead of engaging in the intellectually dishonest practice of pretending that only comparisons with much smaller countries which support the right wing point of view are valid.
Bob Waas June 25th, 2014 at 15:26
I now realize why so many who get their news from this site are so uninformed. Alan protects you from what is really happening and only publishes news that casts liberals in a good light and conservatives in a bad one. Hardly helpful for honest discussion.
Consider this economic report:
US economy falters in latest G-7 report
By: The Associated Press June 24, 2014 0
Here’s a best-to-worst roundup of first-quarter economic growth
for the G-7 countries plus China:
JAPAN: A 6.7 percent annual gain
CHINA: A 5.7 percent annual increase
GERMANY: A 3.3 percent annual rise
BRITAIN: A 3.3 percent annual gain
CANADA: A 1.2 percent annual increase, the slowest growth since the end of 2012
FRANCE: A 0.1 percent annual gain
ITALY: A 0.5 percent annual drop
UNITED STATES: A 1 percent annual “decline”
Read more: http://libn.com/2014/06/24/us-economy-falters-in-latest-g-7-report/#ixzz35gE6ELfk
arc99 June 25th, 2014 at 15:35
all except China have universal health care. oh, and us.
Bob Waas June 25th, 2014 at 15:26
I now realize why so many who get their news from this site are so uninformed. Alan protects you from what is really happening and only publishes news that casts liberals in a good light and conservatives in a bad one. Hardly helpful for honest discussion.
Consider this economic report:
US economy falters in latest G-7 report
By: The Associated Press June 24, 2014 0
Here’s a best-to-worst roundup of first-quarter economic growth
for the G-7 countries plus China:
JAPAN: A 6.7 percent annual gain
CHINA: A 5.7 percent annual increase
GERMANY: A 3.3 percent annual rise
BRITAIN: A 3.3 percent annual gain
CANADA: A 1.2 percent annual increase, the slowest growth since the end of 2012
FRANCE: A 0.1 percent annual gain
ITALY: A 0.5 percent annual drop
UNITED STATES: A 1 percent annual “decline”
Read more: http://libn.com/2014/06/24/us-economy-falters-in-latest-g-7-report/#ixzz35gE6ELfk
arc99 June 25th, 2014 at 15:35
all except China have universal health care. oh, and us.