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Economy rebounding?

NEW YORK – The Dow Jones industrials are back above 9,000 for the first time since the beginning of January.

A 3.6-percent increase in June home sales has investors excited that the hard-hit housing market might be improving. The National Association of Realtors said sales came in at 4.89 million last month, above the 4.84 million analysts had been expecting.

Several better-than-expected earnings reports also helped boost investor sentiment. Ford Motor Co. surprised the market with a second-quarter profit of $2.3 billion due mainly to a huge gain for debt reduction, while drug maker Wyeth, cigarette maker Philip Morris International Inc. and candy maker Hershey Co. all raised their profit forecasts for the year.

http://news.yahoo.com/s/ap/20090723/ap_on_bi_st_ma_re/us_wall_street

Answer Question
 
sweet-a-kins

Asked by sweet-a-kins at 12:54 PM on Jul. 23, 2009 in Politics & Current Events

Level 34 (67,502 Credits)
Answers (18)
  • While unemployment here has reached 14%. I don't think that its rebounding at all. I wouldn't even start to speak those words until about 6 consecutive months of progress. Not just one. At foreclosure rates are rising still.
    Anonymous

    Answer by Anonymous at 1:09 PM on Jul. 23, 2009

  • huge gain for debt reduction

    That should be your first clue.

    drug maker Wyeth, cigarette maker Philip Morris International Inc. and candy maker Hershey Co. all raised their profit forecasts

    Coinciding with the rampant increase of people losing their jobs, receiving unemployment and/or qualifying for government assistance. Drugs, cigarettes and junk food. Three things people turn to when they are depressed.
    NotPanicking

    Answer by NotPanicking at 1:10 PM on Jul. 23, 2009

  • I know in Fayetteville NC it's booming because 20,000 troops are being added to the area. New houses are popping up everywhere.
    rotPferd

    Answer by rotPferd at 1:15 PM on Jul. 23, 2009

  • I think it's a good sign, but some may never admit to an improvement under this administration. Lets wait until a Republican is in office and then we can say all is well again, right?
    tpickle

    Answer by tpickle at 1:16 PM on Jul. 23, 2009

  • I hope so. Man the company my husband works for is suffocating!!!!!
    Anonymous

    Answer by Anonymous at 1:18 PM on Jul. 23, 2009

  • I think it's a good sign, but some may never admit to an improvement under this administration. Lets wait until a Republican is in office and then we can say all is well again, right?

    hmmm, thats funny bc I voted for the president and I don't see it as rebounding. This isn't something that he is going to raise his magic wand and fix. Its going to take time, lots of time. We are in a mighty big hole that will take a few years to dig out of.
    Anonymous

    Answer by Anonymous at 1:19 PM on Jul. 23, 2009

  • Well, our 401k did REALLY well last quarter, but dh just took such a large pay cut that I had to go back to work 10 days after giving birth. Oh well, at least he still has a job.

    What's that fancy schmancy term the president used? Oh yeah, gyrations in the market.
    lovinangels

    Answer by lovinangels at 1:26 PM on Jul. 23, 2009

  • Let me see if I understand this....


    The economy is IMPROVING when stock markets rally for a few days, and Obama gets the credit for making it happen.


    BUT, when a NEGATIVE story comes out against Obama and company, we get the standard "he's only been in office for 5,6,7+ months....anyone who expected he would FIX the economy in a few months is stupid!" (paraphrasing, of course!) LOL


    Can't have it both ways folks! 


    kiss mini

    LoriKeet

    Answer by LoriKeet at 1:37 PM on Jul. 23, 2009

  • The economy is IMPROVING when stock markets rally for a few days, and Obama gets the credit for making it happen.


    YOU just made it about Obama..who gave credit to anyone?? Your blind hatred , already obvious, is affecting your ability to be objective

    sweet-a-kins

    Answer by sweet-a-kins at 1:42 PM on Jul. 23, 2009

  • YOU just made it about Obama..who gave credit to anyone?? Your blind hatred , already obvious, is affecting your ability to be objective


    OH snap!! I agreee!!!!
    Anonymous

    Answer by Anonymous at 1:50 PM on Jul. 23, 2009

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