Nasdaq, S&P Close at New Five-Year Highs

[ak1971]

WHOOOOO HOOOOOO!!!!

NEW YORK - The Nasdaq composite and Standard & Poor's 500 indexes closed at five-year highs Wednesday after a positive report on the economy's service sector pushed stocks modestly higher. A jump in oil prices, however, minimized Wall Street's gains.

ADVERTISEMENT

The Institute for Supply Management's service index, an important barometer of that sector's activity, came in at 60.5 for the month, up from 60.1 in February and better than the 59 reading economists expected. The modest gains were enough to encourage Wall Street about that sector's growth, but did not appear to reignite the market's interest rate worries.

Yet trading remained tentative as the Energy Department's weekly inventory report showed lower stockpiles of gasoline and distillate fuels, which drove up crude oil futures. A barrel of light crude settled at $67.07, up 84 cents, on the New York Mercantile Exchange — a 20 percent year-over-year rise.
http://news.yahoo.com/s/ap/20060405/ap_on_bi_st_ma_re/wall_street

[baja]

I guess the marks the end of the real estate boom.

[ak1971]

I guess the marks the end of the real estate boom.
I really dont think we are going to see an definate end to the boom, or a popping of the bubble if you will. I think we will see regional ends and deflation of the 'bubble' I just dont see a popping as everyone is writing about.

But as one boom ends, something else always takes its place.

[heydensmom]

But as one boom ends, something else always takes its place.

LOL and it won't be increased sales on SUV's

[Rohirrim]

Man, move those jobs offshore, drive down wages, hire illegal immigrants, get some sweetheart tax breaks from your boys in D.C. - and it's party time!! I'm so glad to see the super wealthy having such a great time. Kinda warms the heart, ya know. Have to stop now. Getting a little teared up...

[baja]

I really dont think we are going to see an definate end to the boom, or a popping of the bubble if you will. I think we will see regional ends and deflation of the 'bubble' I just dont see a popping as everyone is writing about.

But as one boom ends, something else always takes its place.

Well of you listen to that prof. at TU you should buy futures on caskets

[ak1971]

Well of you listen to that prof. at TU you should buy futures on caskets
maybe I should skip the trading and go to mortuary school

[L.A. BRONCOS FAN]

Man, move those jobs offshore, drive down wages, hire illegal immigrants, get some sweetheart tax breaks from your boys in D.C. - and it's party time!! I'm so glad to see the super wealthy having such a great time. Kinda warms the heart, ya know. Have to stop now. Getting a little teared up...

:rofl:

[baja]

maybe I should skip the trading and go to mortuary school

That or buy a back hoe and stock up on lime.

[ak1971]

That or buy a back hoe and stock up on lime.
LOL

[SprintRightOption]

Good news.

However, wasn't five years ago the bottom point? Maybe it was 4 1/2 ago after 9/11, that sounds better. But five years ago was way below the peaks that came 6 years ago.

Problem is, the NASDAQ needs to more than double to equal the March 2000 peak. And the S&P is 200+ points below the sept 2000 high.

I know it was overinflated by the internet boom, but how many years will it be before the NASDAQ hits a new high (a little over 5000)? 10? 15?

[cbs1177]

Dunno if it belongs here or not but a saving hint if you want to know how long it takes to double ya money take the natural log of 2 divided by the intersest rate you are getting or on your adding machine punch in the "ln" button then "2" divided by the rate of return aka interest rate

[Mile High Shack]

Good news.

However, wasn't five years ago the bottom point? Maybe it was 4 1/2 ago after 9/11, that sounds better. But five years ago was way below the peaks that came 6 years ago.

Problem is, the NASDAQ needs to more than double to equal the March 2000 peak. And the S&P is 200+ points below the sept 2000 high.

I know it was overinflated by the internet boom, but how many years will it be before the NASDAQ hits a new high (a little over 5000)? 10? 15?

that's the problem right there

the market was so bloated it was stupid

all the day traders and .dot com companies WAY over-inflated the market, it was going to burst sooner or later, they had been prediciting it since 1998, but it finally happen in 2001.

what you see now is more reality than how it was in the feel good days of the 90's...the market was OVER inflated

too many day traders and dot.com companies

[Spider]

Invest into Franklin Mint plates , and hubcaps ........... Cant go wrong there ;D