Liberalism: Do You Agree We've Had Enough of It? Message Board

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Politics : Liberalism: Do You Agree We've Had Enough of It?

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To: Kenneth E. Phillipps who wrote (16164)	10/5/2007 3:50:00 PM
From: Hope Praytochange	of 224731

kenny dont drown in whisky to forget the reality: booming economy, NOT recession NOT derpession like demoRATS been thinking. Stocks Jump Following Jobs Report By THE ASSOCIATED PRESS Published: October 5, 2007 Filed at 3:19 p.m. ET NEW YORK (AP) -- Stocks jumped sharply and bond prices tumbled Friday after the government reported strong September job growth and revised August's weak data upward, cooling fears of a recession. The Dow Jones industrials rose more than 130 points and along with the Standard & Poor's 500 index broke into record territory. The Labor Department's report that employers added 110,000 jobs in September -- essentially what analysts had expected -- reassured Wall Street that the job market wasn't pulling back sharply as was feared a month ago. Though the data appeared to lessen the likelihood of an interest rate cut when the Federal Reserve meets Oct. 30-31, investors were relieved that the economy doesn't appear headed for a precipitous slowdown. Strength this year in the job market amid a housing downturn and tighter credit conditions has been an important pillar for the economy. With consumer spending accounting for about two-thirds of U.S. economic activity, investors are eager for workers to continue to collect their paychecks. Much of Wall Street's collective exhale Friday owed to a revision in August payrolls, which were updated to show a gain of 89,000 jobs compared with an earlier estimate of loss of 4,000 jobs. The release of the August figure -- when economists had predicted a rise -- sent the Dow down nearly 250 points in a single session and, market watchers say, played a role in the Fed's decision to cut its key interest rate by a larger-than-expected half-percentage point last month.

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