Dow Archives – EzKool

Who Should Be Blamed For Dow Reaching Record High?

Remember when Republicans and Mitt Romney said that the only way the economy would recover was if Mitt Romney was elected in November? Well Romney wasn’t elected and today, the stock market hit a new high – a new record.

If Romney was in office, Republicans would be praising him now as the savior. Well, I’m not going to praise President Obama as savior, but I will give him and his policies much credit for helping lift the economy out of the dungeons Bush left it in.

The benchmark Dow Jones industrial average reached an all-time high Tuesday on news that China was pledging to plow more money into its economy, returning the markets to highs not seen since before the 2008 financial crisis.

By noon Tuesday, the Dow was up more than 145 points, or 1.03 percent, to 14,273.70, blowing past both an intraday record and a closing record that were both set in October 2007, during a time when the economy was just peaking and headed toward disaster. The previous intraday trading high was 14,198.10; the closing record was 14,164.53.

Taxes Raised On The Rich, The Dow Goes Up. GOP Wrong Again

Wow. The Dow is approaching 14000 for the first time since 2007. This, in spite of the fact that taxes on the top 1% went up for the first time in over a decade.

Seems Republicans were wrong on this too.

Last week the broad Standard & Poor’s 500 index closed above 1,500 for the first time in five years. This week the Dow Jones industrial average has been flirting with 14,000, a level it hasn’t seen since October 2007.

In early trading Tuesday, the Dow added 22 points, or 0.2%, to 13,905.

Stocks are a bit pricey relative to their earnings, but are nowhere near the overheated levels they’ve seen before, said Robert Shiller, a famed Yale University economist who identified the stock market and housing bubbles of the last decade.

Shiller, who may be best known for a widely reported index tracking U.S. house prices bearing his name, also created an index to track whether stocks were cheap or overpriced.

His CAPE index — which stands for cyclically adjusted price-to-earnings ratio — factors in 10 years’ worth of earnings. He has collected data stretching back to 1871.