Markets gain after weak manufacturing report suggests Federal Reserve would maintain stimulus

  • Article by: STEVE ROTHWELL , Associated Press
  • Updated: June 3, 2013 - 4:42 PM

NEW YORK - For now, bad news is good for the stock market.

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dumbgopJun. 3, 13 2:21 PM

This must be another "sign" right Obama?------------------Obama says economy showing signs of strength, calls on Congress to do more to support progress Article by: Associated Press Updated: June 1, 2013 - 8:10 AM

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cks1950Jun. 3, 13 2:50 PM

Once again, the blamer's announcement that he's turning his attention to the economy, "pivoting", I believe he calls it, is certainly in the nick of time.

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BVMannJun. 3, 13 4:24 PM

And the repug's laser-like focus on jobs? jobs? jobs? Can't you people get out of the cocoon & see neither extremist is doing anything for us while the Wall Street Casino inflates another speculative bubble on us to pay?

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dentesterJun. 3, 13 5:18 PM

It's not the role of government to buy bonds to keep the markets healthy. As a taxpayer, that's my money they're using yet I receive no benefit from it.

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bigbadbeanJun. 3, 13 5:50 PM

This is a house of cards the democrats have built, just like the housing fiasco. It will all come crashing down soon enough and the liberals will Blame Bush or Reagan.

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squeezemeJun. 3, 13 7:15 PM

"For now, bad news is good for the stock market." Bottom line: The Federal Reserve has been printing trillions of dollars ($85 billion each month currently) and using it to buy securities since 2009 to lower interest rates and ARTIFICIALLY pump up stock values. The Fed is creating a bubble in a MISGUIDED attempt to create jobs. But job creation is independent of stock market values! It's all in vain and absolutely stupid! The professional stock traders who watch the market minute by minute know what is going on. They are profiting from this artificially-created bubble and when the bubble pops--and it WILL!--they will be the first to head for the exits and sell out while stock values plummet. It is going to be the middle class (100 million Americans owned stocks directly or indirectly through mutual funds, pensions, and retirement plans before the 2008 recession) that will not be able to get out before the bubble bursts. It will be the middle class that watches their wealth (much of it artificially created by the Fed) disappear! This is going to be a DISASTER! What will be an even bigger disaster is if the Federal Reserve goes bankrupt--which is possible and Ben Bernanke admitted as such a few months ago. Read this: "(Federal Reserve) Chairman Ben S. Bernanke is increasingly aiming for gains in stock prices as the Federal Reserve reaches for new tools to spur the three-year recovery and reduce unemployment stuck above 8 percent. Bernanke, setting the stage for a third round of quantitative easing in an Aug. 31 speech in Jackson Hole, Wyoming, said the strategy works in part by boosting the prices of assets such as equities." Source: "Bernanke Seeks Gains for Stocks in Push for Jobs: Economy", Bloomberg.com, Oct 2, 2012.

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dewarfJun. 3, 13 8:26 PM

And our community organizer turned affirmative action President is suddenly becoming an economic stimulus? All is well, America. Tax the rich and distribute the food stamps. Free stuff in exchange for a vote. Sounds like a future to me.

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turgidJun. 3, 13 8:39 PM

Our economy is turning into a Cracker Barrel. Squeezeme is right. No rise in stock prices ever created a single job. Jobs are created by the need for employees to fulfill a function - which has zippo to do with the board of directors' fat portfolios.

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u4775Jun. 4, 13 6:24 AM

The last place you should be getting reasons for the markets rise or fall is the evening news. Newscasters and financial writers engage in "curve fitting", seeing what happened and finding a supporting news story that fits the results. This is not what moves markets except on a very short term basis. Money moves markets. Sounds simple but finding it and where it is coming from or going too is what you need to know. And it is always on the move around the world. Right now, for geopolitical reasons, it is moving to the US, and will continue to do so for some time yet. Having said that, it is time for a time out until late summer probably.

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