Posts Tagged ‘NASDAQ

04
Jul
14

Happy Birthday, America And Thank You President Obama!

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Spandan Chakrabarti: Not Just A Bull Market, Obama Recovery Points To A Strong Bull Economy

After employment data for June showed Barack Obama besting Bill Clinton’s record on sustained private sector job creation and June’s employment numbers crushing estimates, the DOW rallied to a historical high of over 17,000. To put it in perspective, the day Barack Obama took office in the midst of the greatest recession in (most of) living memory, the DOW lost over 330 points and closed at 7,949. the DOW wasn’t the only stock index to more than double its value over Obama’s presidency. In fact, all three stock indexes economists observe did. The NASDAQ more than tripled its value, going from 1,441 to 4486, and the S&P 500 closed at 1985 on Thursday, nearly 2.5 times its value at closing on January 20, 2009.

Consider a quick summary of yesterday’s jobs report: The economy has now gained private sector jobs for 52 months in a row, the longest ever on record, besting even Bill Clinton’s previous record of 51 months of sustained private sector job growth. In those 52 months, the economy has added 9.7 million private sector jobs. Adding 288,000 jobs, June not only blew past estimates, it marked 5 consecutive months of over-200,000 job additions for the first time since 1999. In the past year, the stubbornly high long-term unemployment rate has finally begun to drop. The last 12 months saw a 1.4 percentage point drop in unemployment, with fully half of that coming from the previously long-term unemployed finding work. The truth – and I know I keep repeating it – is that if any white president had accomplished Obama’s record on the stock market alone, let alone the rest of the recovery, they would be well on their way to be canonized as a bona fide American saint.

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firework

03
Jul
14

The Obama Economy Roars Ahead

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Market Watch: The Great Obama Bull Market Will Roar Till 2016

Yes, it’s time to celebrate. We’re in a historic bull market. GOP conservatives keep fighting the wrong war, against the Obama economy. Meanwhile, the Obama bull market keeps roaring ahead!. And the long term looks even better: Bullish pundits predict stocks will continue climbing into the 2016 presidential election. Folks, this stock market has been roaring since March 2009 when the DJIA bottomed at 6,547, a painful 53.9% drop from the October 2007 high of 14,164 during the Wall Street bank credit crash in Bush’s last year as president. The S&P 500 also bottomed, at 676, a 56.6% drop. However, since March 2009 the stock market has been steadily climbing. Over five years. And the DJIA’s made a remarkable recovery, to just under its next big milestone, 17,000. While the S&P500 is nearing 2,000, headed up. Yes, market gains over 250% … and still climbing!

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So what can we expect from the stock market by 2016 and the election of the next American president? More! Fabulous 250% gains so far. And bigger gains possible coming in the next couple years till we elect a new president. Maybe over 300%. Gains likely to favor a Democrat. Get it? GOP conservatives may have been successful in slowing America’s economic recovery. But the stock market is actually getting surprisingly stronger from this political war. With every Obama progressive move — Obamacare, ERA regulations, equal pay for women, gay rights, minimum wages, stem-cell research, immigration, Osama bin Laden, deficit cuts and so much more — GOP conservatives and the tea party learn little, only hear enough for another attack on Obama, offer no solutions, just opposition.

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Yes, the Great Obama Bull Market would be one for the history books. So, yes, in spite of the relentless GOP opposition, the attacks, legislative gridlock, economic headwinds, and global macroeconomic land mines put in his path, in spite of the ever-possible, unpredictable black swan, the Great Obama Seven-Year Bull Market, as financial history books will likely call it, may just keep thriving, overcoming obstacles, and roaring ahead predictably, hopefully till the next presidential election on November 3, 2016. And that label will stick no matter who gets elected the next president

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