Oil at $71 per barrel; Dow Jones up 130 points.

[harlinchi]

The misery of the American people translates into corporate joy. Did'ja ever notice how the markets treat increases in the unemployment numbers?

[xultar]

1. Who'da thunk.

[Protagoras]

2. Wait till you see the Profits for Exxon this quarter

I'm sure they are going to take it in the shorts given how much they're being forced to pay...right? er...

[northzax]

3. why should the price of oil matter to them?

you have no alternative, gas could be ten bucks a gallon, and people would still buy it. since when does a pusher care that the junkies are having trouble paying him?

[electron_blue]

4. I agree

[MercutioATC]

5. Economic indicators measure the business climate, not the overall economy.

And for big business, business is good.

That's why we have to keep educating the right that the Dow gaining 100 points is NOT necessarily a sign the the "people's economy" is getting better.

[Zynx]

6. Also a 1% gain is hardly a material one.

The market is reacting more to the prospect of restrained interest rates.

[MercutioATC]

7. I was speaking more of issues that are "good" for business but bad for

the general population.

A given company's stock will usually rise when they lay off U.S. workers or outsource U.S. jobs because it improves the business' bottom line even though doing so creates a less favorable economic climate for American workers .

The idea that traditional economic indicators have much to do (at least short-term) with how good the economy is for the average U.S. worker is a right-wing falsehood that we'd do well to correct.

[Telly Savalas]

15. I'd be pretty happy if I could invest money

and get a return of 1% a day. At that rate $100 would turn into nearly $3800 over the course of year. That's material in my book! :)

Although, I concede that since the Dow bounces up and down enough, for an isolated day a 1% gain isn't really news.

Also, thanks for pointing out an alternate explanation for the bump in the market. Somebody correct me if I'm wrong, but most companies on the Dow Jones index are not oil companies. Higher oil prices translate into higher expenses and smaller profits for most companies. Not good for them.

[rman]

12. The "overall economy"

is usually measured by the total amount of wealth/money, it doesn't say anything about where the money is going.
So we're told "the economy is doing well", "the economy is doing not so well", "the economy is recovering" etc. Alway this broad "the economy". But it means sh*t to the vast majority of people. It could just as well be about the economy of another planet in another solar system in another galaxy.

[LaPera]

8. Let me know if the Dow EVER tops the mark (11,386.54) the day Bush

took office (Jan 20th 2001). It NEVER has yet, and going on six fucking years!!!!

[Duer 157099]

9. According to this post:

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x2232803

AT THE CLOSING BELL WHEN BUSH TOOK OFFICE on January 22, 2001
Dow - 10,578.24

[Zynx]

10. With a normal rate of return using that number, the Dow would be at

15,542.91

[Zynx]

11. With a normal rate of return using that number, the Dow would be at

15,542.91

[tritsofme]

13. Dow ended the day up nearly 200 points

More of a reaction to the fact that the Fed's tightening campaign may be nearing an end, and a rosy earnings picture than anything else.

[APPLE314]

14. IT'S A TRAP. SELL NOW..........

[Clarkie1]

16. No thanks, I'm still bullish on this market. n/t