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.
(AP)
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One Response
If you print money in a big way, it has to go somewhere. One way is to cause price inflation of stocks (better that then in causing price inflation of food). Some other prices, such as oil, have also risen at an eqivalent rate. When the newly printed money makes its way into the “real” economy, we’ll see inflation of thinks we need (food, shelter, etc.) rising as fast as stocks (which have close to doubled since 2009).