The stock market gained 7.7% in the month of September - the best in 71 years!
"The Dow gained 7.7 percent in the month, making it the strongest September since 1939, at the dawn of World War II. However that runup followed a dismal August, and the Dow is still only up 3.5 percent for the year and is 3.7 percent below its closing high for 2010 reached on April 26.
Major indexes have been surging all month on signs of incremental improvement in the economy, which have allayed worries that the country would fall back into recession."
Stocks end best September in 71 years down - Business - Stocks & economy - msnbc.com
Replies
12
SoWal Insider
Feels more like we are treading sideways to me.
Beach Fanatic
If it's the DOW which is up 7.7% for the month, maybe people are shifting $$$ from other riskier stocks to the DOW. Also, you have to ask if portfolio managers are trying to make their picks look pretty for the end of a quarter. Being up a little bit after being down a lot doesn't indicate a recovery.
Beach Fanatic
Anyone see the new Wall Street movie?
SoWal ExpertAuthor
Feels more like we are treading sideways to me.
I can certainly agree with that - was just surprised by the article and it was verified by my September statement.
SoWal Insider
I can certainly agree with that - was just surprised by the article and it was verified by my September statement.
We're at an interesting point. By the end of the year we'll see what the larger trend looks like. We've been in wide trade band for most of the year. On the DOW, 10K - 11K. Look at a one year to see it.
Beach Fanatic
Sorry, but the DJIA being up 7.7% has essentially nothing to do with whether the recession is over in our household -- or that of most of our friends -- who are trying to make a living here along 30-A.
SoWal ExpertAuthor
Technically the recession ended in June 2009 - but it sure hasn't felt that way to me. I think the whole BP oil cluster definitely skews it locally.
This was a positive statistic that actually jibed with my firsthand experience so I wanted to see what others thought.
This was a positive statistic that actually jibed with my firsthand experience so I wanted to see what others thought.
SoWal Expert
I don't think the recession ended in 2009. I think the economy was, and is, propped up by the gov't.
One month increase of any market means nothing in the big picture.
One month increase of any market means nothing in the big picture.
SoWal ExpertAuthor
The "Great Recession" went from December 2007 to June 2009.
I said "technically" because I think it is mostly a statistical measurement, not a great indicator of the basic economy.
I said "technically" because I think it is mostly a statistical measurement, not a great indicator of the basic economy.
Banned
I don't think the recession ended in 2009. I think the economy was, and is, propped up by the gov't.
One month increase of any market means nothing in the big picture.
If that's the case, you could argue that the government helped to end the recession as they've been saying all along. The questions are, how sustainable is this and what are the potential negative effects?
SoWal Insider
The "Great Recession" went from December 2007 to June 2009.
I said "technically" because I think it is mostly a statistical measurement, not a great indicator of the basic economy.
It's a little premature to be declaring the end of the "great recession". People made the same claims during the great depression. That wonderful period lasted almost ten years, during which there were ups and down in the market, but the overall long term trend was down. You wouldn't have know that in the middle of it, and it was easy to get excited about run ups in the indexes during.
The economy is still totally fubar'd. This is going to be a very long slog, and there's litte anybody can do about it.
Beach Fanatic
In my business (software consulting) and a fair number of the other businesses I deal with (mostly manufacturing, distribution and service firms) everyone seems to think that business is slowing down again. I saw revenues plateau in July and begin dropping a bit in Aug and September. Its really bad since Sept & Oct have traditionally been my strongest months each year.
Doesn't feel much like any kind of recovery to me.
Doesn't feel much like any kind of recovery to me.
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