Wall Street and market indices improve a bit
Posted By RichC on November 15, 2011
The news from Europe and lackluster leadership in Washington DC continued to dampen investors hopes that we might see a rebound in both jobs and economy, but for today the markets closed up after an early down move today. The Dow was up 17 points, S&P 500 about 6 and the Nasdaq an impressive 29 points or a 1% rise. Those who follow tech stocks believe that the technology heavy Nasdaq could be the leadership group “if” we are coming out of this long recession. We can all hope.
Of course the markets weren’t the only positive note on Wall Street … the police moved in on the Occupy Wall Streeter’s makeshift camp at 1AM and took back Zuccotti Park from the #OWS protesters. New York City’s Mayor Bloomberg gave the order on fears over health and safety after crime and disease have become noticeable. The two month protest has generated mixed support, most likely due to its obnubilated message. Most Americans are at least somewhat understanding to the plight of joblessness, lost homes and savings and the questionable relationship that has favored the big banks and their executives. They (we) have difficulty understanding why many of the protests are also anti-capitalism and business … or why the finger isn’t pointed at big government? I suspect there is plenty of naïveté in understanding just how much better it is in our country because of free markets and rewarding innovation.
I’ve often heard the comparison of the liberal leaning Occupy Wall Street movement to the conservatives Tea Party, but the more of the current protesters behavior I see … there is no comparison. I’m sure there are some decent, well intended individuals, but the mob behavior and squallier conditions they leave our public grounds in are shameful. It is time for them to go home and regroup … clarify your cause.
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