A look at the day's business news headlines:
The bulls are back: Stocks surge
U.S. stocks rallied right out of the gate and didn't look back Friday afternoon as investors grabbed onto a slightly stronger report on durable goods orders, and as gold touched a record high above $1,300 an ounce.
All three major indexes touched fresh four-month highs. The Dow Jones industrial average surged 200 points, or 1.9 percent, with all 30 components of the blue-chip index higher.
The S&P 500 jumped 23 points, or 2.1 percent, as 98 percent of its components postedgains, including Nike, which rose to an all-time high near $82 a share.The tech-heavy Nasdaq surged 49 points, or 2.1 percent. Shares of Apple andAmazon continued to rally to all-time highs.
"The better-than-expected report on orders for durable goods, particularly the nice rebound in goods excluding transportation, furtherconfirms that a double-dip recession is not likely any time in the immediate future," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research.
Treasury yields bounce as stocks rally
Treasury yields recovered losses Friday, gaining momentum as stocks rallied and a better-than-expected manufacturing report eased economic jitters.
What yields are doing: The yield on the benchmark 10-year note rose to
2.6 percent from 2.55 percent late Thursday. Bond prices and yields move in opposite directions.
The yield on the 30-year bond edged up to 3.79 percent from 3.73 percent, and the 5-year note climbed to 1.35 percent from 1.31 percent. The 2-year note's yield ticked up to 0.45 percent from 0.42 percent on Thursday.
– CNNMoney.com reporters Hibah Yousuf and Blake Ellis contributed to this report.
Keep the dems in.
This type of stock market manupilation should be against the law. It causes average less informed people to invest their life savings at a time when they should not.
They are unaware the feds are giving out money to big investors so the market goes up before an election. Who is doing the manipulating? Geitner. He is the only one with enough knowledge of how the stock market works. Basically what he is doing is investing large sums of taxpayer money himself. Because he knows what the people who receive the fed money will do with it.
At some point after the election the stock market will plunge. The average people will lose their money.
What is an index?
Checkout this video on YouTube
Boy republicans are going to hate hearing this news. This is really going to ruin their weekend. Oh well. Fuk em
Barney Frank and Christopher Dodd caused our economy to collapse. In the year 2005, they insisted upon Sub Prime loans to people who couldn't afford to buy a house. This resulted in the packaging of those thousands and thousands bad loans with good loans. At some point, the housing would adjust downward. They knew it would. But still they did it to buy poor voters by giving them morgages.
They are DEMOCRATS. You are idiot jim with your #4 comment. They are going to fry in Hell.
Oh and you, don't ever post that again. Many republicans are Christians.
Many republican are gay but scared to admit it.
Had this report said all three major index's lose big,this page would be full of the obama haters who claim its not about race,but those same racist are never around for good news,
It's as if you all hope he fails(sarcasm).
Dems get off your butts and talk this stuff up. Unemployment is down a bit this month, too. I think some big corporations are holding back from hiring because Obama has cracked down on them for using "legal-ese" and unethical business practices for profit gain. Nobody talks about what he HAS done. Only thing the fearful herd talk about is he's a muslim, what were his grades at Harvard. Crap that won't help US at all!
Why are people so afraid of having the federal reserve audited?
Big Game James and duke.
First of all BGJ, President Obama is a Muslim. Republicans made a big deal about him attending a black racist Reverand's church for twenty years. He didn't. It's a slight of hand trick used to distract from the real unelectible truth of him being a Muslim.
God doesn't care if people are gay. He did many years ago because the planet needed to be populated.Now the planet is overpopulated and he wishes about 3 billion of the people were gay. Particularily in areas where poor people think they have a right to another soul because their bodies can produce the baby. Not true.
Anyone who accepts a soul from God and can't feed the child is in big trouble with him. People must learn having the ability to do something, does not mean you have the right to.
As if God contradicts himself
Jim Brieske. First off, God doesn't contradict himself. Secondly, the world is nowhere near being overpopulated. We currently grow more than five times the food needed to sustain human life on earth. But the food isn't distributed properly. Some countries consume so much of it there is very little leftover for others. I know of one country in particular where they actually have an obeisity epidemic! Even their children are porky. All this while their neighbor starves. So much for your "God" theory where he uses gays for population control.
Over 80% of all US Treasury certificates are held by foreign governments. Their value is based ion US property value. The Federal Reserve made it easy for banks to make homeloans to people who couldn't affiord them, driving land value artificially higher, making the Treasury cert. more valuable. Then the Fed clamped down causing the "bubble" to burst and then the Fed buys Treasury certificates like mad at the new artificially lowered price. Audit the Federal Reserve and this all goes away. We can then buy and sell fairly.
So you know god like that,so much so he told you he's cool with the gay's now?
I guess he told you that obama is a muslim also!!
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