Dow Closes at Highest Level Since 2007 on Fed Stimulus News

NYSE
NEW YORK -- The stock market staged a huge rally after investors got the aggressive economic help they wanted from the Federal Reserve. The Dow Jones industrial average is finishing up more than 200 points.

The gain pushed the Dow to 13,540, its highest level since December 2007, the start of the Great Recession. The Standard & Poor's 500 index is finishing up 23 points at 1,460. The Nasdaq composite ends the day up 42 at 3,156.

The Fed says it will spend $40 billion a month to purchase mortgage securities because the economy is too weak to reduce high unemployment. It has also extended its pledge of super-low interest rates into 2015.

There were nearly four stocks rising for every one falling. Volume was high, 4.5 billion shares.

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flem-flam

give romney four years to see what he can do.when he fails then what ?

September 14 2012 at 9:31 AM Report abuse -2 rate up rate down Reply
1 reply to flem-flam's comment
j_swizzle

stock up on spam

September 14 2012 at 9:54 AM Report abuse +3 rate up rate down Reply
mmarkmapeter

Maybe China is were you should have been before George Bush send the US to war in Iraq for 10 years for no reason! As far as President Obama is concern, I guess somebody has to clean up mess in the US. He must be a CNA for this nursing home called United States. By the way, President Obama is ending the wars not starting them. The health care system China has, well President Obama just started one for the US. haha!!
I still don't understand how you lost money in the Great American Bailout that was passed by then President George Bush. Explain that to me. Well, I will let you go so you can do your shopping at the walmart store of Guangzhou. Good luck!

September 14 2012 at 8:30 AM Report abuse -4 rate up rate down Reply
begroening

I am 68 years old. I lost 3.5 million in the Great American Bailout. I had some mileage points on Delta. I asked my son (this was 4 years ago) where do you want to go... he said the other side of the world! That ended up being Guangzhou, China. We loved China. No Guns, No Wars. I is like living in a Big Walmat Store, haha!
Well I packed everything I own into a storge unit and moved to Guangzhou, China which is the size of Chicago, LA and NYC put together.
How I collect SS and teach English, what a great retirment!
I live in a very nice area. Great home. Safe! I teach English 5 hours a day, 5 days a week for 10 months. The pay is $20,000 US Dollars. That is equal to $50,000 of spendable income in China.
I think people should look to other parts ot the world to live. If Obama is elected the USA is not going to be safe.
And the health care is great! All the Doctors are trained in the USA. And is so cheap!
Take care AMERICA!

September 14 2012 at 8:11 AM Report abuse +2 rate up rate down Reply
1 reply to begroening's comment
mmarkmapeter

It amaze me to read your message. Do you accept the fact that the GREAT AMERICAN BAILOUT was passed by then George Bush. How did YOU lost money in a bailout that did not come out of your pocket?? The sound bites that you have made looks and sounds impressive but you have not volume in that statement. By the way, everyone knows the labor oversea is very cheap therefore the cost of living is cheap.
OH, I guess the US was safe when George Bush took office and got us involved in three wars. President Obama has ended the war in Iraq and ending the war in Afghanistan. I just want to correct you on all these false statements you are posting. We were attacked on George Bush watch. We have not been attacked since. George Bush took the war to a country that had nothing to do with the bombing of 911.
Last thing!! President Obama has given us health care. The one you are talking about....that China has. Health care is great because the Doctors are trained in the USA....WOW...that means the health care in the USA is GREAT!!!
Take care China MAN. Stay over there...PLEASE DON"T COME BACK!

September 14 2012 at 8:45 AM Report abuse -4 rate up rate down Reply
vonwoomer

another gov't bail out instead of measures that should be taken for our economy. i.e less spending, more energy permits on fed land and offshore, jobs stimulations with pipeline, coal,etc, lessen capital gains for businesses...
Obama trying to fool us again with this bandaide measure.. We won't be fooled again.. The financial genius,CEO, for President...Romney in Nov.

September 14 2012 at 8:07 AM Report abuse +4 rate up rate down Reply
Forest Chump

Psssi! Don't tell the repubs that something done be the Obama administration might be GOOD for the economy. It's so sad to burst their bubbles...

September 14 2012 at 7:53 AM Report abuse -4 rate up rate down Reply
2 replies to Forest Chump's comment
steve_cone

How is this GOOD?? Banks getting richer by flooding the stock market with government money causing gas prices to go sky high, then bringing the whole thing down when they sell. Banks get richer, average people in stocks get poorer, banks still not using GOVERNMENT money to lend to people who NEED it.

September 14 2012 at 8:03 AM Report abuse +2 rate up rate down Reply
TREELOVER

I'm not even a republican; I'm independant. But, if you think the stimulus was, or is again, a good idea, you have not studied anything about the American economy.

Do your homework before you get all sarcastic.

September 14 2012 at 8:46 AM Report abuse rate up rate down Reply
jaythomasjazz

Better this way than Wars I do not support...
Hate the rich?...it is not that at all...it is the disproportionate income that is the problem ...why the Romster should make 250 times a workers life time salary while driving the company into the ground is beyond me...it is not awesome... it is pathetic... Awesome is charlie parker or bill gates or Steven J Hawkings...that's awesome...not some twink who has a very white bread life and is on mono....money money money...big deal. his wealth is like a guy with a tan and a great bodybuilder body and no girl friend or friends...just a waste i would say...he is cultural devoid of all interest for me.

September 14 2012 at 1:36 AM Report abuse -2 rate up rate down Reply
gagesxm

how do you like the FED spending your taxpayer monies so far?

September 13 2012 at 11:58 PM Report abuse +2 rate up rate down Reply
frogman800

Short version: Obama is bad for the poor. He is so-so for the middle class, though he is shrinking it in this economy, and he is a mad dog against the rich. Why does everyone hate the rich? Don't most of those hating the rich want to be rich themselves? How moronic. Being rich is awesome. Who does not want to drive the car they want, live in the house they want, send their kids to the best schools, go on awesome trips like an African safari (which by the way costs over $10,000 for only a couple weeks), etc. I'm sure a few maybe. 5%? The other 95% want to be rich. It's fun being the rich guy. Yet they hate the rich? 99% of them allegedly hate the 1% rich. Total BS.

September 13 2012 at 11:47 PM Report abuse +2 rate up rate down Reply
1 reply to frogman800's comment
chris1011

Nobody hates the rich, frogman. What people resent is someone getting rich on the sweat and on the backs of others and then blaming them for being poor.

September 14 2012 at 12:55 PM Report abuse -1 rate up rate down Reply
frogman800

Dangerous times. Four years of a floundering US economy. China rising and Russia re-rising. The mid-east in crisis. America seen as weak and vulnerable. Obama and group setting US on a rutted course to poor enslavement via entitlements whereby soon it is not a want but a need. If you live off subsidies for 5 years, 10 years, whatever then go out to get a job, what is available to you? "Sir or Madam, your resume does not show employment for the last 4 years. What have you been doing? Many of our applicants come from X or Y, but you seem to have taken a break. Can you explain?" Can you? Unless the job is junk, or they are willing to take a large pay drop due to DOE (depends on experience, which our example persons do not have much of recently), they won't get the job. And then complain that all the jobs for poorer folk are junk and low paying, which they are not because they are poor but because they have little to no experience and are 30 or 40 years old. And there they are, deeply in the rut, and more or less SOL. You want welfare, you're gonna work for it for us. You want a hand out or Section 8 housing, you have to go to training to get the subsidy to learn a skill set. This is a broad stroke, but you get the idea. Don't give them money, teach them how to earn it so they can break the bonds of servitude and being poor and rise up, or at least pave the way for their kids to rise up, assuming that is what they want.

September 13 2012 at 11:43 PM Report abuse +2 rate up rate down Reply
ectullis

Get rid of Obsama and the federal reserve. In that order.

September 13 2012 at 11:23 PM Report abuse +1 rate up rate down Reply