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The Dow and S&P 500 turned decisively higher in the final minutes of trading to close at their best level since December 2007 and all three major averages turned in their third-straight weekly gain.
Stocks wavered around the flatline for most of the session following a weaker-than-expected consumer sentiment report and a mixed batch of corporate earnings.
"This has been a good consolidation week and it's nice to see the S&P 500 hold in the 1,470 to 1,480 range," said Christian Thwaites of Sentinel Investments. "The economic numbers are becoming right on the screws?The earnings are a little bit wayward, but we're only early into this and next week will be a much more meaningful earnings week. But the news has generally been good."
The House GOP will take up a plan next week that would extend the debt limit to April 15, requiring both the House and Senate to pass budget resolutions by then.
Among earnings, Dow component General Electric rallied after the conglomerate posted results that beat estimates, thanks to growth in China and in resource-rich nations. GE is a minority owner of NBC Universal, the parent company of CNBC.
With businesses spanning multiple industries, GE's results will serve as a bellwether for other S&P 500 companies, said Art Hogan of Lazard Capital Partners.
"It's attached to so many different verticals in the S&P 500. When you have General Electric that is a pretty good window into what the rest of the S&P is doing in terms of supply and demand," Hogan said.
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America recovering under Obama
Lets celebrate RAY
go out and get a case of bud
:00hour :0008
Stocks wavered around the flatline for most of the session following a weaker-than-expected consumer sentiment report and a mixed batch of corporate earnings.
"This has been a good consolidation week and it's nice to see the S&P 500 hold in the 1,470 to 1,480 range," said Christian Thwaites of Sentinel Investments. "The economic numbers are becoming right on the screws?The earnings are a little bit wayward, but we're only early into this and next week will be a much more meaningful earnings week. But the news has generally been good."
The House GOP will take up a plan next week that would extend the debt limit to April 15, requiring both the House and Senate to pass budget resolutions by then.
Among earnings, Dow component General Electric rallied after the conglomerate posted results that beat estimates, thanks to growth in China and in resource-rich nations. GE is a minority owner of NBC Universal, the parent company of CNBC.
With businesses spanning multiple industries, GE's results will serve as a bellwether for other S&P 500 companies, said Art Hogan of Lazard Capital Partners.
"It's attached to so many different verticals in the S&P 500. When you have General Electric that is a pretty good window into what the rest of the S&P is doing in terms of supply and demand," Hogan said.
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America recovering under Obama
Lets celebrate RAY
go out and get a case of bud
:00hour :0008
WASHINGTON -- The number of Americans seeking unemployment aid fell last week to the lowest level in five years, evidence that employers are cutting fewer jobs and may step up hiring.
The Labor Department said Thursday that weekly unemployment benefit applications dropped 5,000 to a seasonally adjusted 330,000. That's the fewest since January 2008.
The four-week average, a less volatile measure, fell to 351,750. That's also the lowest in nearly five years.
The decline may reflect the government's difficulty adjusting its numbers to account for layoffs after the holiday shopping season. Layoffs spike in the second week of January and then plummet. The department seeks to adjust for those seasonal trends, but the figures can still be volatile.
If the trend holds up, fewer applications would suggest the job market is improving.
"Encouraging news on the U.S. jobs front, even when you remove all of the noise," said Jennifer Lee, an economist at BMO Capital Markets. "Weekly data are noisy, particularly at this time of year, so keep that in mind."
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:00hour :00hour
The Labor Department said Thursday that weekly unemployment benefit applications dropped 5,000 to a seasonally adjusted 330,000. That's the fewest since January 2008.
The four-week average, a less volatile measure, fell to 351,750. That's also the lowest in nearly five years.
The decline may reflect the government's difficulty adjusting its numbers to account for layoffs after the holiday shopping season. Layoffs spike in the second week of January and then plummet. The department seeks to adjust for those seasonal trends, but the figures can still be volatile.
If the trend holds up, fewer applications would suggest the job market is improving.
"Encouraging news on the U.S. jobs front, even when you remove all of the noise," said Jennifer Lee, an economist at BMO Capital Markets. "Weekly data are noisy, particularly at this time of year, so keep that in mind."
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:00hour :00hour
ATLANTA (AP) - The home improvement retailer Lowe's plans to hire 54,000 part-time workers this spring, and company officials say they expect 9,000 of the jobs to become permanent positions.
The Atlanta Journal-Constitution reports that the company's hiring plans reflect a gradual turnaround in the housing market, a rebound in the economy and an improving job market.
The Mooresville, N.C.-based company has 63 stores in Georgia. The company will hire around 26 workers per store for the spring and summer.
Lowe's employs about 8,500 workers in Georgia. It has a distribution center in Valdosta, and another distribution center will open in Rome later this year.
Executives with the company say workers being hired include cashiers, lawn and garden specialists, loaders and stockers.
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:00hour :00hour
The Atlanta Journal-Constitution reports that the company's hiring plans reflect a gradual turnaround in the housing market, a rebound in the economy and an improving job market.
The Mooresville, N.C.-based company has 63 stores in Georgia. The company will hire around 26 workers per store for the spring and summer.
Lowe's employs about 8,500 workers in Georgia. It has a distribution center in Valdosta, and another distribution center will open in Rome later this year.
Executives with the company say workers being hired include cashiers, lawn and garden specialists, loaders and stockers.
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:00hour :00hour
Reuters) - The S&P 500 index on Friday closed above 1,500 for the first time in more than five years as strong earnings reports, including Procter & Gamble's, helped the benchmark extend its rally to eight days.
The winning streak is the longest in eight years and left the S&P 500 about 4.1 percent away from its all-time closing high of 1,565.15 on October 9, 2007.
The equity market's strong start this year has been attributed to solid corporate results, an agreement in Washington to extend the government's borrowing power, encouraging signs from the global economy and seasonal inflows into stocks.
Procter & Gamble (PG.N) shares led the Dow and S&P higher with a 4 percent gain to $73.25 after the world's top household products maker's quarterly profit soared past expectations. The company also raised its sales and earnings outlook for the fiscal year.
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:00hour :0008
Hail to the Chief
Obama is turning it around :0074
The winning streak is the longest in eight years and left the S&P 500 about 4.1 percent away from its all-time closing high of 1,565.15 on October 9, 2007.
The equity market's strong start this year has been attributed to solid corporate results, an agreement in Washington to extend the government's borrowing power, encouraging signs from the global economy and seasonal inflows into stocks.
Procter & Gamble (PG.N) shares led the Dow and S&P higher with a 4 percent gain to $73.25 after the world's top household products maker's quarterly profit soared past expectations. The company also raised its sales and earnings outlook for the fiscal year.
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:00hour :0008
Hail to the Chief
Obama is turning it around :0074
Boehner attributed the suspicions to the younger members in the Republican ranks who are not familiar with his voting record in the years before he took the Speaker?s gavel.
?Some of our members don?t realize that while I may be a nice enough guy, and I get along with people, when I was voting I had the 8th most conservative voting record in the House,? he said. ?But a lot of our newer members ? they don?t know that. And so, you know, they think I?m some squish, that I?m ready to sell them out in a heartbeat, when obviously, most of you in this room know that that ain?t quite who I am
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replace squish with lush
that works better
?Some of our members don?t realize that while I may be a nice enough guy, and I get along with people, when I was voting I had the 8th most conservative voting record in the House,? he said. ?But a lot of our newer members ? they don?t know that. And so, you know, they think I?m some squish, that I?m ready to sell them out in a heartbeat, when obviously, most of you in this room know that that ain?t quite who I am
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replace squish with lush
that works better
anyone still willing to hit this now ?
kindas gettin the hag worn out look to her
how do you lose a job on FOX unless you are really stupid ?:142smilie
Here's a weird little story in the world of the Fact-checking Industry that doubles as a 2012 election year coda. Former Romney campaign strategist Stuart Stevens wants the Washington Post's Glenn Kessler to take another look at the "Four Pinocchios" Kessler gave a late-stage campaign ad from the Romney camp that claimed, among other things, that President Obama ?sold Chrysler to Italians who are going to build Jeeps in China," and, in response, "Mitt Romney will fight for every American job.?
The coupling is key, because it let the ad take a generically true fact -- Jeeps are going to be built in China -- and add some cheap demagoguery by implying that "American jobs" were thus at stake. The matter caused a minor kerfuffle when it was aired, and Chrysler had to take pains to tell frightened auto workers in Ohio that they were, in fact, not going to lose their jobs.
Stevens, however, reckons that now that Chrysler is going ahead with Jeep production in China, Kessler needs to revise his previous rating. Stevens wrote in a letter to the Post:
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oh hell to the no
hard to believe Romney would be interested in getting that Pinocchio reduced .
what a joke
thats all they got to worry about :SIB
no wonder Willard lost
The coupling is key, because it let the ad take a generically true fact -- Jeeps are going to be built in China -- and add some cheap demagoguery by implying that "American jobs" were thus at stake. The matter caused a minor kerfuffle when it was aired, and Chrysler had to take pains to tell frightened auto workers in Ohio that they were, in fact, not going to lose their jobs.
Stevens, however, reckons that now that Chrysler is going ahead with Jeep production in China, Kessler needs to revise his previous rating. Stevens wrote in a letter to the Post:
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oh hell to the no
hard to believe Romney would be interested in getting that Pinocchio reduced .
what a joke
thats all they got to worry about :SIB
no wonder Willard lost
Obama also said one of the biggest factors in the gun-control debate will be how it is shaped by the media.
?If a Republican member of Congress is not punished on Fox News or by Rush Limbaugh for working with a Democrat on a bill of common interest, then you?ll see more of them doing it,? he said. ?I think John Boehner genuinely wanted to get a deal done, but it was hard to do in part because his caucus is more conservative probably than most Republican leaders are, and partly because he is vulnerable to attack for compromising Republican principles and working with Obama.?
The president argued that ?the more left-leaning media outlets recognize that compromise is not a dirty word? and that party leaders, including Senate Majority Harry Reid and House Minority Leader Nancy Pelosi, are ?willing to buck the more absolutist-wing elements in our party to try to get stuff done.?
Has Obama himself ever fired a gun? Yes, he says, he and others shoot skeet frequently at the president's Maryland retreat, Camp David.
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:SIB
?If a Republican member of Congress is not punished on Fox News or by Rush Limbaugh for working with a Democrat on a bill of common interest, then you?ll see more of them doing it,? he said. ?I think John Boehner genuinely wanted to get a deal done, but it was hard to do in part because his caucus is more conservative probably than most Republican leaders are, and partly because he is vulnerable to attack for compromising Republican principles and working with Obama.?
The president argued that ?the more left-leaning media outlets recognize that compromise is not a dirty word? and that party leaders, including Senate Majority Harry Reid and House Minority Leader Nancy Pelosi, are ?willing to buck the more absolutist-wing elements in our party to try to get stuff done.?
Has Obama himself ever fired a gun? Yes, he says, he and others shoot skeet frequently at the president's Maryland retreat, Camp David.
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:SIB
There's another challenge that we must address and it is the corrupting force of the vast sums of money necessary to run for office," said Kerry. "The unending chase for money I believe threatens to steal our democracy itself. I've used the word 'corrupting' and I want to be very clear about it: I mean by it not the corruption of individuals but a corruption of a system itself that all of us are forced to participate in against our will."
The next secretary of state added, "We should not resign ourselves, Mr. President, to a distorted system that corrodes our democracy, and this is what is contributing to the justifiable anger of the American people. They know it. They know we know it. And yet nothing happens. The truth requires that we call the corrosion of money in politics what it is -- it is a form of corruption and it muzzles more Americans than it empowers, and it is an imbalance that the world has taught us can only sow the seeds of unrest. Like the question of comity in the Senate, the influence of money in our politics also influences our credibility around the world. And so, too, does the difficulty -- the unacceptable and extraordinary difficulty we have in 2013 operating the machinery of our own democracy here at home."
Kerry is leaving the Senate to be the next secretary of state, a position that will have him flying around the world and speaking on behalf of the American people.
Kerry is estimated to be worth $193.07 million dollars.
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:scared
The next secretary of state added, "We should not resign ourselves, Mr. President, to a distorted system that corrodes our democracy, and this is what is contributing to the justifiable anger of the American people. They know it. They know we know it. And yet nothing happens. The truth requires that we call the corrosion of money in politics what it is -- it is a form of corruption and it muzzles more Americans than it empowers, and it is an imbalance that the world has taught us can only sow the seeds of unrest. Like the question of comity in the Senate, the influence of money in our politics also influences our credibility around the world. And so, too, does the difficulty -- the unacceptable and extraordinary difficulty we have in 2013 operating the machinery of our own democracy here at home."
Kerry is leaving the Senate to be the next secretary of state, a position that will have him flying around the world and speaking on behalf of the American people.
Kerry is estimated to be worth $193.07 million dollars.
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:scared
Three contractors are bidding to fix a broken fence at the White House in D.C. -- one from Georgia, another from Tennessee and the third from Florida. They go with a White House official to examine the fence.
How it works:
The Florida contractor, Jonathan, takes out a tape measure and does some measuring, then works some figures with a pencil. ?Well", he says, "I figure the job will run about $900: $400 for materials, $400 for my crew and $100 profit for me."
Clete , the Tennessee contractor, also does some measuring and figuring, then says, "I can do this job for $700: $300 for materials, $300 for my crew and $100 profit for me."
KOD , from Georgia , doesn't measure or figure but leans over to the White House official and whispers, "$2,700."
The official, incredulous, says, "You didn't even measure like the other guys! How did you come up with such a high figure?"
KOD the fence contractor from Georgia , whispers back, "$1000 for me, $1000 for you, and we hire the guy from Tennessee to fix the fence."
I will supervise the job.
"Done!" replies the government official.
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RAYMOND
this is the way I do it. Not sure how you negotiate
How it works:
The Florida contractor, Jonathan, takes out a tape measure and does some measuring, then works some figures with a pencil. ?Well", he says, "I figure the job will run about $900: $400 for materials, $400 for my crew and $100 profit for me."
Clete , the Tennessee contractor, also does some measuring and figuring, then says, "I can do this job for $700: $300 for materials, $300 for my crew and $100 profit for me."
KOD , from Georgia , doesn't measure or figure but leans over to the White House official and whispers, "$2,700."
The official, incredulous, says, "You didn't even measure like the other guys! How did you come up with such a high figure?"
KOD the fence contractor from Georgia , whispers back, "$1000 for me, $1000 for you, and we hire the guy from Tennessee to fix the fence."
I will supervise the job.
"Done!" replies the government official.
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RAYMOND
this is the way I do it. Not sure how you negotiate
