HELLO>>> The Bush Recession greatest economic downturn since the Great Depression...
but now with President Obama The Bush Recession has bottomed out and things are starting to improve!
Index adds to good economic signs
August 04, 2009
The Standard & Poor's 500 index hit four digits again.
The widely-used stock market measure broke above 1,000 for the first time in nine months as reports on manufacturing, housing and banking sent investors more signals that the economy is gathering strength.
The index is used as a benchmark for many mutual funds.
Indexes all rose more than 1%, including the Dow Jones industrial average, which climbed 115 points.
The Dow rose 114.95, or 1.3%, to 9,286.56. The S&P 500 index rose 15.15, or 1.5%, to 1,002.63. It was the first finish above 1,000 since early November.
The Nasdaq composite index rose 30.11, or 1.5%, to 2,008.61, its first close above 2,000 since October.
The market's July rally blew into August on the type of news that might have seemed unthinkable when stocks fell to 12-year lows in early March.
A report predicted US manufacturing activity will grow next month, the American government said construction spending rose in June, and Ford said its sales rose last month for the first time in nearly two years.
The day's reports were the latest indications that the recession that began in December 2007 could be retreating.
Hope of a recovery, based on better corporate earnings reports and economic data, propelled the Dow Jones industrial average 725 points in July to its best month in nearly seven years, restarting the spring rally that stalled in June.
