DOW Up

The DOW gained 72 points today closing at 12,763.

Listening to NPR earlier, there was discussion on the weak GDP numbers. One aspect that caught my attention had to do with employment. The talking head was saying that corporations are investing in more high tech and machinery rather than hiring more workers.

So what does that say. Is it humans being supplanted by computers and robots or is it something more malicious.

Reuters: Microsoft profit rises, helped by Office

Reuters: Dow transports hit record, leading Wall Street higher

But the U.S. Federal Reserve has maintained support for its easy monetary policy, which has helped push up equity prices in the face of increasing inflation.


Other economic data showed pending sales of existing U.S. homes were much stronger than expected in March, offering faint glimmers of hope for the depressed U.S. housing market.