When headlines like this were posted across the world back in 2000 the mood of traders and investors was a lot more euphoric. It took 6 years but this record demonstrates the reselient American economy and the strength of Democracy. In 2000 the Dow Jones Indurstial Average closed at a record high of 11722.98 but yesterday, the DJIA closed at a new record high of 11727.34.
It's a much different world today than the day when we hit the record in 2000 -- Of course, with 911 changing everything. Yesterday when the Dow reached the new record, traders barely even noticed. There was no applause; when the market closed, barely anyone reacted. People were more concerned with other news of layoffs and speculation of how the drop in oil prices will help out consumers going into the holiday season.
I like the fact that there wasn't much celebration of the record. I think it shows discipline on the part of investors. What is exciting is the days to come. Ok, the Dow hit a record. Will it back off today and have a record fall? Or will it keep pushing higher? Stay tuned!
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1 comment:
One thing is how much more higher is it going to go. Does this signal we are at a recovery?
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