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Jobs report woeful; Dow soars
A look at the day's business news headlines:
Jobs stink, Dow surges. What's up?
Stocks rallied Friday, with the Dow crossing 11,000 and closing above the key level for the first time in five months.
The buying frenzy came after a sharp drop in the overall jobs figures in
September boosted the chances of the Fed stepping in to stimulate the economy.
"The jobs number was terrible, but it clinches the deal for another round of stimulus from the Fed on Nov. 3, and that's why the markets are screaming today," said Phil Orlando, chief equity market strategist at Federated Investors.
The Dow Jones industrial average rose as much as 84 points, or 0.5%, to a fresh-five month intraday high of 11,032. It eased from that level in the afternoon, but still finished with a 58-point gain, led by Alcoa and
Caterpillar.
The Dow closed at 11,006, its highest level since May 3.
The last time the blue chip index traded above that level was just days
before the"flash crash" that sent the Dow tumbling nearly 1,000 points in one day.
Corporate bond market contrasts with declining yields of Treasurys
Corporate bonds have been on a tear since the market collapse of 2008, as investors sought refuge from a tumultuous stock market.
The corporate bond market occupies that nice comfortable middle ground between the still volatile stock market and government debt offerings that offer ultra-low yields.
In recent years, investors have withdrawn billions of dollars from
equities markets in search of a safe haven, only to find themselves stuck with the declining yields offered by Treasurys. Prices and yields move in opposite direction.
U.S. Treasurys currently have yields ranging from less than half a
percent for two-year notes to just over 3% for 30-year longbonds. Compare that with corporate bonds, which offer yields average around 4% for investment grade debt, and 8% for riskier high yield bonds.
"With the improved environment we've seen issuances almost explode," said Kim Rupert, the managing director if fixed income at Action Economics. "Both supply and demand [for corporate bonds] have picked up over the last year."
– CNNMoney.com reporters Hibah Yousuf and Charles Riley contributed to this report.
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shove your thgreats and wars in your greedy lazy coward ass's.
you cun,ts think it os fun ot pi..ss me of do you, of course you hide nice and safe dont you.
u wnat me to go mad and go kill others.
go blow my self up some where else.
while u set on your lazy asss runing your pig mouths.
Rot IN Hell.
GO ask Musharraf and Kofi Anna. where the fuk is My 4.5 Billion Euors.
go ask obama and the c.u.n.t clinton where the fuk is my army nurse.
and in case YOU missed it while runing your pig mouth, China Accpted MY New Deal and They To NOw have MY Technolgy as well as other stuff.
now you go fill up that fuking s.uv. and high dollar pick up truck boat and that moterhome and thats peed boatand bray Gold bless them Troops.
Suk tht a-rab ass and g murder its enmies for it.
bow and worship your mighty jews.
thye block the words, w.h,or/e and va,gina.
even in here no matter what you selfish stinking k.unts hav ot stick togther.
while of Course YOUR males go fight and die.
INtercpted:=Stay in Ir.,aq, Die iN Ir,.,aq.
Slit Thier Fuking Throats.
Inshallah.
Fuking Pigs.
to many BIG words ? you anal pile of filth.
A VERY PROUD Army Veteran and An Army Wife
You are pretty stupid. You are not an American......you need to go find a country to live where they will really "care" about who you are. Rest easy tonight......oh yeah, you can't because people like heroe SFC Vogeler did not die trying to make sure your home is safe from terrorists. Reality check: oh yes, he definitely did die for YOU and so have many other heroes like him.
October 8, 2010 at 3:58 am | Report abuse | Reply
Turns HIs Back and Walks away.
Bother Me NO More.
VIVA LA MEXICO !!!!