http://finance.yahoo.com/news/dow-hits-14-000-1st-165029128.html
Today was a remarkable day on wall street. The Dow averaged 14,000 for a moment, but it was the first time in years in which this happened. The U.S. jobs report and auto sales helped achieve that. The last time the stock market was like this was right before it crashed in 2007 and back when firms like Lehman Brothers, Bear Stearns, Wachovia and Washington Mutual still existed. Its surprising how we accomplished this when our unemployment rate is 7.9% and back in 2007 it was 4.7 %, even though the U.S. did say that 157,000 jobs were created in January. American car companies reported double-digits this January also. Today could be a memorable record-breaking day for the Dow, as it could beat its all time record of 14,164.53 if it continues to stay on its trend. If the Dow remains at above 14,000 when the stock market closes, it would be one of the rare moments that has only happened nine times before. The economy is showing signs of recovery in some parts of the world, stocks are slowly going up in Britain, Germany and France. Unfortunately it isn't the same story in the Netherlands and Greece with banks being bought by governments and workers going on strikes.
This shows a monumental moment in the recovery of the economy because the stock market is one of the things that shows the growth since the recession has hit making the world market and growth in the economy seem like a more likely thing
ReplyDeleteThis is evidence of the economic recovery. The stock market is a solid indicator of economic growth or shrinkage. Also, I am pretty excited about my capital gains in my portfolio that are a result of this.
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