Dow Hits New High
According to the Wall Street Journal today, the “Dow Jones Industrial Average on Friday gained 42.06 points, or 0.3%, to 16221.14. That surpassed the Dow’s January 2000 high of 16186.39 once the average is adjusted for inflation, according to calculations by William Hausman, an economic historian at The College of William & Mary in Virginia.”
If it can stay above this height, or continue to break that peak, the DJIA may be headed towards another bull market soon. At the least, the new high signals improved investor confidence – possibly spurred by Wednesday’s Fed decision to taper off QE3 as a result of recent economic indications that a stable recovery is in effect.