US Stocks Surge, DJIA Returns To Pre-Lehman Level

[denem]

Source: WSJ

NEW YORK (Dow Jones)--U.S. stocks rallied Thursday to their highest level since September 2008 as investors applauded the Federal Reserve's latest effort to stimulate the struggling economy.

The Dow Jones Industrial Average closed up 219.71 points, or 1.96%, to 11434.84, its highest closing level since just before Lehman Brothers collapsed. Dow components Bank of America, J.P. Morgan and Caterpillar fueled the blue chips higher.

The Standard & Poor's 500-stock index jumped 23.09 points, or 1.93%, to 1221.05. Financials were the S&P 500's biggest-gaining sector after The Wall Street Journal reported the Federal Reserve is expected soon to start allowing healthy banks with strong capital levels to increase their dividend payments.

The technology-heavy Nasdaq Composite gained 37.07 points, or 1.46%, to 2577.34.

Read more: http://online.wsj.com/article/BT-CO-20101104-723636.html

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How nice that Wall Street and main street have recovered. Oh wait.

[bluesmail]

1. Yeah It didn't take too long. We're in for it. Now I really want off the planet. eom

[denem]

2. Lehman who?

Lest we forget.

[aquart]

3. Idiots.

[SarahB]

4. The Dow's not up due to the election (and this is IMPORTANT)

but due to the Fed's disastrous "Quantitative Easing" policy, announced yesterday, that's designed to pump billions of new dollars into the system as another backdoor bailout of the banks and corporations. In will also lower the value of the dollar overseas and potentially cause major inflation here. These policies were enacted according to a specific timetable and by people with the full blessing of the Obama administration.

Anyone who sees a political conspiracy is not well enough informed about the markets or the economy. This is actually far, far worse than a political conspiracy.

[truthisfreedom]

5. Essentially another bubble being formed?

[SarahB]

9. Yes, exactly. nt

[Psephos]

12. True, true, true. n/t

[Plucketeer]

6. Hey PEONS!

Everything's fine up here on the peak. Hang in there tho - we're bound to let some crumbs roll your way! :rofl:

[NeoConsSuck]

7. How True !!

[Doctor_J]

8. Roll?? Don't you mean trickle down?

[Plucketeer]

14. Roll down - trickle down - same thing

I like your little cartoon, but there should be a narrative bubble coming up from that group of recipients. One of them should be saying: "Hey! Look! A free golden shower! Anyone got a bar of soap???"

[Odin2005]

10. Fuck those bakster FUCKERS!

[girl gone mad]

11. This is why Democrats lost, let's be honest.

Mind the gap.

[ProudDad]

13. New bubble. What's good for the "market" is BAD for working people! (n/t)