The Dow Jones Industrial Average climbed above 14,000 for the first time since the Great Recession.
The index rose as high as 14,000.97 in early trading. The index last traded above 14,000 in October 2007.
The Dow has gained 6.7 percent since the start of the year.
A budget deal, struck at the start of the year in Washington, that allowed the U.S. to avoid the “fiscal cliff” was the catalyst for a January rally. Investors then pushed stocks higher amid optimism that the housing market is maintaining its recovery and that the jobs market is slowly healing.
The index has more than doubled since falling to close at low of 6,547.05 March, 3, 2009 after the Great Recession.
Well that’s nice. Good for everyone who has any investments left at this point. I’m not going to get excited about it, because I’m very aware of the disconnect between the real economy and the fairytale land of Wall Street. Still, it’s a little bit of nice news.
The highest the DJI has ever closed at was 14,164.53 on October 9, 2007. Two days later on October 11, 2007, it hit it’s all time record intra-day trading point of 14,198.10. Under Booosh. Then the housing bubble broke, with that whole junk mortgage fiasco, bank crisis, and so on.
Knuckles getting, well, not quite white, but I’m watching for the time to cash out and get some more silver, as well as a couple of diesel generators and a patch of ground in the countryside. Planted that seed in my mom’s head a couple of weeks ago as well, so we may go in on it.
So I guess ALL those floor traders are back to work then? No? Well why not? Computers you say? Really?
Yep, Its all gettin done with a few keyboards in some High rises around Manhattan these days so as fast as it is going up it can just as quickly fall.
But until money costs more they can just keep Borrowing to cover the margins and make us all think this is real growth.
Be Careful what you believe gang,they do control That narrative too.
Yup. Paper dreams of paper money can be paper tigers. The stock market is not the economy.