Bulls Run Wild

Stocks rise on lower bond yields, Goldman profit

Reuters
Tue Mar 14, 2006 4:41 PM ET
By Caroline Valetkevitch

NEW YORK (Reuters) - U.S. stocks rose sharply on Tuesday, with the Dow and S&P 500 indexes hitting their highest in nearly five years as U.S. Treasury yields fell and record profit from Goldman Sachs Group Inc. boosted shares of financial companies.

A decline in U.S. Treasury 10-year note yields, following an unexpected drop in February retail sales, helped ease interest-rate worries for stock investors who fear that higher rates will hurt corporate profits.

"The market just wants to know that these rate increases are done," said Marc Pado, U.S. market strategist at Cantor Fitzgerald & Co.

The Dow Jones industrial average rose 75.32 points, or 0.68 percent, to end at 11,151.34. The Standard & Poor's 500 Index was up 13.35 points, or 1.04 percent, at 1,297.48. The Nasdaq Composite Index was up 28.87 points, or 1.27 percent, at 2,295.90.

The S&P 500 index registered its biggest one-day percentage gain since January 3.

A rally in U.S. crude oil futures drove shares of energy companies higher. Exxon Mobil Corp. rose 2 percent, or $1.17, to $60.81 and provided the biggest boost to the S&P 500.

Yep, those Democrats are right, the economy is in the tank, no doubt about it. Democrats know less about sound economic policy than they do about national defense. I thank God everyday that neither Al Gore nor John Kerry-Heinz are in the presidency. Had either of those two idiots won, we would be deep in a depression comparable to the "Great Depression." They would have raised taxes to pay for more state-run programs and driven a stake through the heart of our economy. Rather than creating 4 million new jobs over the past five years, we would have lost an additional 4 million jobs, over and above normal attrition.

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