Skip to main content

With all the great speeches from the Democratic Convention, it's probably easy to over look the fact that investors are bullish on the prospects for corporate earnings.

The Standard & Poor's 500-stock index closed at 1432.12, its highest point since January 2008.

The Nasdaq Composite closed at 3135.81, its highest level in more than a decade, reaching a level not seen since the dot com crash of 2000.

The Dow closed at 13292, its highest point since December 2007.

But better news still is the fact that we are still seeing steady but modest private sector job growth. Private-sector employment increased by 201,000 from July to August on a seasonally adjusted basis, according to the latest ADP National Employment Report released today.

The ADP report shows that the service sector added 185,000 new jobs, while the goods producing sector added 16,000.

Construction was a bright spot, rising for the third consecutive month. With an addition of 10,000 jobs, the sector saw its biggest gain since March.


    Small businesses (representing payrolls with 1-49 employees) +99,000
    Medium businesses (representing payrolls with 50-499 employees) +86,000
    Large businesses (representing payrolls with more than 499 employees) +16,000

So hey folks, the wind is at our backs. We have hit home run after home run at the convention. We have very encouraging news from the business sector from a stock market perspective. We are still seeing modest but steady private sector job growth. President Obama will hit a grand slam tonight when accepting our party's nomination to be our standard bearer.

Based on Nate Silver's concise modelling of the electoral college battle, I feel very good about having President Obama serve a second term. Now let's get the gavel back to Nancy Pelosi from Mr Suntan and keep Harry Reid our Majority Leader.

Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags


More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site