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My personal musings about anything that gets on my radar screen--heavily dominated by politics.

2006-09-26

Going the Right Direction

The Dow Jones Industrial Average closed today at its second highest level ever. It is within about 60 points of its all-time high, after a strong upward move of 93 points today.

What sparked the 93-point jump today?

Consumer Confidence numbers. In particular the Conference Board revealed that its September numbers jumped unexpectedly to 104.5, higher than the expected 103.

In other words, the average consumer is feeling better about the economy.

Combine this with falling gas prices (tonight I filled my tank at $2.47/gallon), and the wallet is starting to feel pretty good.

If it continues, this spells doom for the Democrats in November. If the GOP can figure out how to take credit for it without screwing up.
Posted by: Michael / 9/26/2006 10:46:00 PM

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