02 May 2007

The Market Wins! The Maaaaaaaaarket Wins!

So I love reporting on teh financial sector. Between anthropomorphising it, infusing it with totemic spirits, and the metonymic devices it is a structuralist anthroplogist's dream. But for CNN, it appears to be a sports team:

NEW YORK (CNNMoney.com) -- The Dow rallied to yet another
record high Wednesday, capping its longest winning stretch in nearly 52 years,
on robust earnings news, a $10.6 billion deal for Cablevision and a strong
reading from the manufacturing sector.

The Dow Jones industrial average (up 75.74 to 13,211.88,
Charts) rose nearly 0.6 percent to close at an all-time high for the fifth time in the last six
sessions. The Dow also hit an intraday high of 13,256.33 during the
session.

The blue-chip indicator has now risen in 21 of the last 24
sessions - the best streak since the summer of 1955. Back then, the 30-share Dow
climbed about 10 percent over 25 sessions while it's up about 7.5 percent in the
recent run.

;">I just hope that the Dow Jones stays on its toes for the playoffs. The Nikei has a huge index and the EU Common market, while young, has been showing remarkable maturity and poise. They could put the breaks on that wining streak real fast unless the Dow Jones recruits some new stocks. Luckily, they have a great source of talent in their minor leagues: The S&P 500 crew has a few prospects just itching for the big time!

Huzzah!

No comments: