NewsMine — economy — united-states — 2007-jun-jul — Viewing Item

Dow shoots passed 14k then falls back { July 18 2007 } Original Source Link: (May no longer be active)    http://business.bostonherald.com/businessNews/view.bg?articleid=1011939 http://business.bostonherald.com/businessNews/view.bg?articleid=1011939 Dow moves shoots above 14,000 early, then falls back By Associated Press Wednesday, July 18, 2007 - Updated: 12:07 AM EST NEW YORK - The Dow Jones industrial average swept past 14,000 for the first time yesterday, after a mostly tame inflation reading gave investors reason to extend an extraordinary - but perhaps questionable - Wall Street rally. The stock market’s best-known indicator crossed 14,000 in the first half-hour of trading, though it didn’t close above that level. It did, however, manage its fourth record close in as many sessions. The Dow rose as high as 14,021.95, having taken just 57 trading days to make the trip from 13,000. Broader market indicators closed mixed. Stocks have risen fairly steadily since the spring amid a continuum of buyout news and evidence that, despite higher fuel prices and the ongoing problems in the housing market and mortgage lending industry, consumers are spending and companies are still finding room for growth. With the Federal Reserve ever vigilant about inflation, any news that prices are rising at a moderate pace has added to the market’s momentum, as it did yesterday. But the Dow’s latest accomplishment does raise questions about whether investors are buying more on speculation than fundamentals - and whether these gains can hold. The market still faces issues including rising oil prices that could crimp consumer spending. And a drop in takeover deals could puncture investor sentiment, as could a further souring of subprime loans amid a cooling housing market. © Copyright 2007 Associated Press.

Bernanke warns of housing downturn woes { July 18 2007 } Bond yields see biggest jump in years { June 7 2007 } Company buybacks artificially inflate stocks { June 2007 } Dow plummets over 400 points { July 26 2007 } Dow shoots passed 14k then falls back { July 18 2007 } Economists say prices must go up { May 2007 } Fed rate fear based on higher bond yields { May 2007 } Florida and california have riskier real estate markets Housing foreclosures jumped 90 perc in year { May 2007 } Housing slump to weigh heavily economy { June 1 2007 } Miami condo glut pushes florida economy recession Most americans say economy is getting worse { June 19 2007 } Rising inflation fears slam stocks { May 2007 } Stocks plunge on mortgage bond conern { May 2007 } Trade gap hurt US economic growth { June 1 2007 } US cities moving to european model of rich center { June 2 2006 } Wheat prices hit record high { June 11 2007 } Files Listed: 17

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