Stocks touch new '09 highs (Wall Street advances on Bernanke, rise in consumer confidence)

[usregimechange]

NEW YORK (CNNMoney.com) -- Stocks gained Tuesday, extending the recent rally, after reports showed that consumer confidence and home prices are starting to recover.

News that President Obama is nominating Federal Reserve chief Ben Bernanke for a second term in office added to the positive sentiment.

The Dow Jones industrial average (INDU) added 30 points, or 0.3% and closed at its highest point since Nov. 4. The S&P 500 (SPX) index gained 2 points, or 0.2% and closed at its highest point since Nov. 6. The Nasdaq composite (COMP) rose 6 points, or 0.3% and the highest close since Oct. 1.

Stocks slipped Monday as investors took a step back after pushing the major gauges to new 2009 highs Friday. But after Monday's brief hiccup, stocks resumed their advance Tuesday.

Stock gains were pretty broad based, with 21 of 30 Dow stocks rising, led by Boeing (BA, Fortune 500), JPMorgan Chase (JPM, Fortune 500), United Technologies (UTX, Fortune 500) and Travelers Companies (TRV, Fortune 500).

http://money.cnn.com/2009/08/25/markets/markets_newyork/index.htm?postversion=2009082516

[yourout]

1. No way I would be buying stocks right now.

The underlying cause of our problems is not being addressed....it is being ignored.

Until we get out of GAT, WTO, and NAFTA, drop the hammer on offshoring of jobs, and actual start making things again our downward spiral will continue.