Tech stocks join broad market rally on deal to extend Bush tax cuts; Apple hits new all-time high

Apple Online Store“Tech stocks rose along with the broad market Tuesday in a rally fueled by reaction to a deal to extend Bush-era tax cuts for another two years,” Rex Crum reports for MarketWatch.

Among the advancers were… Apple Inc. (AAPL $322.37, +$2.22, +0.69%), Google Inc. (GOOG $589.38, +$11.02, +1.91%) and Oracle Corp. (ORCL $29.10, +$0.37, +1.28%),” Crum reports.

Full article here.

MacDailyNews Take: Another new all-time intraday high for Apple!

34 Comments

  1. No doubt, if stocks had declined, MDN would not have reported “stocks declined as a result of continuance of failed bush policies”.

    Hey, MDN, I saw the most remarkable thing this morning! I heard a rooster crow, and then the sun rose! I therefore conclude that the rooster made the sun rise! Same correlation-implies-causation logic from this article.

    (and to keep it apple related, apple was already on its way up)

  2. @ Mike,

    How about the country living within its means instead of taking more and more of OUR money for a change. Do you pay any taxes? If you do, then I’d think the government running up its “credit card bill” unchecked should bother you and everyone else that works hard for their money.

    It’s the ENTITLEMENT MENTALITY in this country that’s “phucked!”

  3. Misguided and ill-informed Libs:

    Tax revenues increased after the Bush tax cuts as the economy began booming again.

    In the first 19 months of the Obama administration, the federal debt held by the public increased by $2.526 trillion, which is more than the cumulative total of the national debt held by the public that was amassed by all U.S. presidents from George Washington through Ronald Reagan.

    Look it up, knee-jerkers. Learn something for a “change.”

  4. For those above with reading comprehension issues:

    MacDailyNews didn’t report that the current rally is being “fueled by reaction to a deal to extend Bush-era tax cuts for another two years.”

    Rex Crum did for MarketWatch.

    That’s what those funny little quotation mark thingies signify.

  5. Either way, Obama was planning more stimulus, regardless of how it happens. They were only arguing about which segment of the population would get the money.

    Deficit reduction was never on the table.

  6. Here is a thought: maybe stocks are not really going up in value but the dollar is sinking. That is probably why gold, silver, and oil are also moving up.

    Just a thought before we break out the champagne.

  7. Not the right forum for this question, but are the home energy tax credits being extended as well? I can’t find anything specific about this.

    (I’ve already used my $1500 tax credit for 2009-2010 and now I’m holding off until 2011 for that new metal roof job, pending renewal of the tax credit.)

  8. The Obama Mistake: I assume you are suggesting no banks or car companies should have been bailed and no stimulus funds should have been extended to anyone? Not that it matters, but I do recall the bank bailouts being started late in the Bush administration. I am just trying to understand your point.

  9. @ The Obama Mistake

    Look it up… speculative bubble, wars for oil, crony contracts… spent down the surplus, emptied the coffers, fire up TARP

    then claim we need to live within the means…classic R values…

    Tell the truth for a “change”

  10. If the Bush tax cuts were so important and necessary, why didn’t they work for Bush? Why havent they done anything for anyone except the rich?

    Face It, USA. Your binary political system has enabled a kleptocracy that uses cliches and demagoguery to get you to vote against your interest.

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