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SUNDAY, NOVEMBER 22, 2009
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 MARKETS 
10

Home Sales Send Dow Over 9,000

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(AP) – The Dow Jones industrials are back above 9,000 today for the first time since the beginning of January. A report of a jump in home sales eased investors' worries about one of the economy's biggest trouble spots. They responded by buying stocks across the market, lifting the major indexes more than 1.5% and sending the Dow up 150 points, past 9,000.

A real estate group said sales of previously occupied homes rose 3.6% from May to June. It was the third straight monthly increase, feeding investors' hopes that the overall economy is strengthening. Several better-than-expected earnings reports also helped boost investor sentiment. Ford surprised with a second-quarter profit of $2.3 billion, while drug maker Wyeth, cigarette maker Philip Morris, and candy maker Hershey all raised their profit forecasts.

Traders gather at the post that handles the common stock of CIT on the floor of the New York Stock Exchange Thursday, July 16, 2009.
Traders gather at the post that handles the common stock of CIT on the floor of the New York Stock Exchange Thursday, July 16, 2009.   (AP Photo/Richard Drew)
Trader Steven Schnibbe, left, and fellow traders gather at the post that trades CIT on the floor of the New York Stock Exchange Thursday, July 16, 2009.
Trader Steven Schnibbe, left, and fellow traders gather at the post that trades CIT on the floor of the New York Stock Exchange Thursday, July 16, 2009.   (AP Photo/Richard Drew)
Specialist Donald Civitanova, center, conducts trading in shares of CIT preferred, on the floor of the New York Stock Exchange Thursday, July 16, 2009.
Specialist Donald Civitanova, center, conducts trading in shares of CIT preferred, on the floor of the New York Stock Exchange Thursday, July 16, 2009.   (AP Photo/Richard Drew)
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dontlikeyou
Jul 23, 09 10:50 AM CDT
As layoffs continue and unemployment rises close to 10% (15% in some states), the Dow skyrockets upward. If you ever wondered if there is a disconnect between the powerful in this world, and you and your neighbors, then this is clear evidence. The upward DOW will cause gas to rise, further taking the common American's hard earned money and giving it to the wealthy. Think your man in office, the democrat is going to fix this? Think again egghead--- he's one of the elites. And you voted for him. Reply
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wwwonderer
Jul 23, 09 11:36 AM CDT
Jane pretty much said it best. The Bushes from NEW ENGLAND (not TEXAS) are more elite than the past 3 Democratic Presidents. Now, GWB, HE'S PURE TEXAS! And quite frankly I don't understand when the word INTELLIGENT equated to ELITE,as the GOP tries to make it seem. Are we supposed to try to be the best we can at whatever we do FOR A LIVING? Who is striving for MEDIOCRITY? Who wants THEIR doctor/lawyer/accountant/teacher/massage therapist/-BLANK- to be at the top of their field, or nestled in the middle of the pack undistinguished? How many parents out there are encouraging their children to do whell in school, but NOT become EXCEPTIONAL? WTF???
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wwwonderer
Jul 23, 09 11:51 AM CDT
With that being said...this IS more of the same. Really? An increase in sales of PREVIOUSLY OCCUPIED homes (how many were foreclosed upon) sends the Dow up. Playing real estate as aquick investment can work sometimes but if we don't let the prices soften to where they SHOULD be then we'll be doing this all over again in 5 years. Greed has made our country into a den of inequity. It's not just the $million, $billion scams, it is every person looking to get over on another. It is every group that wants, or may even have a legitimate NEED for money and they decide to kill a wealthy couple, in order to ROB them. We are all looking on how we can CAPITALIZE on those we encounter in our lives. America IS the land of opportunity. Unfortunately many of those 'opportunities' are artificial, synthetic if you will.
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IN RESPONSE:
kokuaguy
Jul 23, 09 11:59 AM CDT
It's not so much the level to which he rose that appealed to me, sir. It's his roots and life experience that convinced me to support him after Hillary crapped out. I certainly agree with your first thoughts, and for what it's worth, I'm beginning to like you. . ; ^)
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JaneMP
Jul 23, 09 11:04 AM CDT
Obama is one of the elite? Compared to whom? The Bushes who have governed for generations? McCain who comes from a line of military elite? And whereas I think looking at the DOW as either a sign of success or a falling economy is absurd, the Republicans have always crowed when it fell. And yes, I VOTED FOR OBAMA and am proud of it. I can only imagine how poorly off our country would be if "no-regulation, tax-cuts-for-the-rich" McCain had won. Reply
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