Dow up 1% on first trading day of 2011.

[MineralMan]

The DJIA jumped 100+ points at the beginning of trading today, and has held steady at around 11,700 all day, with no sign of a late afternoon drop. What does this mean? I have no idea, but it appears that traders are feeling a bit confident. We appear to be getting closer and closer to that elusive 14,000 peak that the average attained before the center couldn't hold and things fell apart.

Looking at a 6-month record, the trend has been steadily upward for the Dow. I don't see any reason it won't continue that slow build.

Will it mean jobs? I have no idea.

[elleng]

1. Dow has been rather 'good' for a while,

but I see little real relation re: jobs. Jobs will certainly take a lot longer to come back.

[MineralMan]

4. The stock market averages are a leading indicator, at best,

when it comes to jobs. As you say, jobs will trail the stock market by quite a bit. The current upswing in the averages really only dates back about six months, and the bottom was quite a while ago. We're seeing minor positive changes in jobs, but the acceleration is pretty slow.

[Yavin4]

2. Money Is Cheap

When the price of borrowing money is low, asset values rise. Money has been cheap for going on three years now. You can borrow grand sums at no cost and buy assets.

However, money won't stay cheap forever. Soon, it will rise.

[badtoworse]

3. Market indices are generally considered a leading indicator

Employment numbers are a lagging indicator meaning that the hoped for hiring will follow later.

I'm not an economist, but I'm sure one will weigh in on this.

[Trajan]

5. Globalization took care of the job question ...

No .... There will not be any significant increase in jobs .... US workers had their moment, then squandered their legacy and the future of the children by ingesting the bullshit suet spoonfed to the masses by a compliant media rife with incestuous corporate relationships ....

The fox has convinced the chickens they are foxes too .... and the chickens will believe it, until the canine teeth rip the flesh from the bone ....

There is a new economy approaching, and it will not include a significant middle class ... It will be based on subsistence income, buying the bare necessities for families bereft of the hope for advancement.

Cars ? .... HAH ! .... I expect to buy used cars, exclusively .... and fix the one I have until it breaks apart ... College ? ... HAH ! .... Im lucky to be able to afford textbooks - Classrooms and instructors cost too much for me ...

I do find it fascinating that so many people, educated in public schools and raised in a "New Deal" environment, will work so hard to tear down that which had made their comfortable life possible ...

People are stupid ....