Source:
APNEW YORK — The Dow Jones industrial average swept past 14,000 for the first time Tuesday, rising on a relatively mild inflation report and better-than-expected profit reports from blue chip names including Coca-Cola Co. and Merrill Lynch & Co.
The stock market's best-known indicator crossed 14,000 in the first half-hour of trading, rising to 14,002.60, having taken just 57 trading days to make the trip from 13,000.
Stocks have risen fairly steadily since the spring amid a continuum of buyout news and evidence that despite higher fuel prices and the ongoing problems in the housing market and mortgage lending industry, consumers are spending and companies remain optimistic about the future. With the Federal Reserve ever vigilant about inflation, any news that prices are rising at a moderate pace has added to the market's momentum, as it did Tuesday.
The release of upbeat earnings reports also reassured a market that had worried that a slowing economy and rising energy prices would slash into corporate profits.
Read more:
http://www.startribune.com/535/story/13074...
Well, the Dow is now over 14,000, but how does this really compare to say 2000 with the dollar in freefall right now? Health care premiums are also going up double-digits for employers.
