Stocks rise on construction, factory data (Obama, economy, good news, Chicago)
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Wall Street rose on Tuesday as U.S. construction spending recorded its largest monthly increase in nearly 10 years and U.S. manufacturing expanded in for a tenth straight month.
The Commerce Department said construction spending rose 2.7 percent, and investment in private construction surged 2.9 percent, the largest increase since July 2004. Also, the Institute for Supply Management's manufacturing index expanded more than expected in May.
"The ISM was phenomenal and continues to show expansion," said Jack Ablin, chief investment officer at Harris Private Bank in Chicago. "The issues in Europe have yet to be felt here, and the U.S. economy seems to be a global source of strength right now."
Construction spending eh? What happens when that money being spent, stimulous money for one time projects, is gone? Dow is charging up what 17 points right now. I better empty my savings and dump it all in with this kind of recovery going on.
Yeah, but according to City-Data insiders, the depression is just around the corner
Maybe we are better off stydying the facts as opposed to listening to the CD insiders. If I had listenend to the CD insiders last year, I would have missed out huge during the rally of 2009-2010. These guys dumped their 401Ks when DOW was in 6Ks, so you can only imagine the bitterness they experience now.
Construction spending eh? What happens when that money being spent, stimulous money for one time projects, is gone? Dow is charging up what 17 points right now. I better empty my savings and dump it all in with this kind of recovery going on.
I don't really care about the DOW. The factory, and construction data is good news, whether you like it or not. DOW would probably be down a couple of hundred points on negative Euro news if it wasn't for the good US news.
I don't really care about the DOW. The factory, and construction data is good news, whether you like it or not. DOW would probably be down a couple of hundred points on negative Euro news if it wasn't for the good US news.
Then why did you post a thread about stocks rising? If we are spending money we don't have on stimulus projects how is it a good thing for America?
Wall Street rose on Tuesday as U.S. construction spending recorded its largest monthly increase in nearly 10 years and U.S. manufacturing expanded in for a tenth straight month.
The Commerce Department said construction spending rose 2.7 percent, and investment in private construction surged 2.9 percent, the largest increase since July 2004. Also, the Institute for Supply Management's manufacturing index expanded more than expected in May.
"The ISM was phenomenal and continues to show expansion," said Jack Ablin, chief investment officer at Harris Private Bank in Chicago. "The issues in Europe have yet to be felt here, and the U.S. economy seems to be a global source of strength right now."
Even more signs the economy is improving under Obama !!!
Construction spending eh? What happens when that money being spent, stimulous money for one time projects, is gone? Dow is charging up what 17 points right now. I better empty my savings and dump it all in with this kind of recovery going on.
You have every right to not take advantage of the recovering economy. That is entirely your choice. By all means, feel free to hang on to your "rewarding" political opinions.
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If we are spending money we don't have on stimulus projects how is it a good thing for America?
