Dow Jones Industrial Average hits 14,000

NEW YORK 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.

[eroteme2]

I'm not as young as I used to be. I remember when there was speculation whether the DOW Jones Industrial Averge would ever break the 1,000 barrier. The popular opinion was this would unlikely occur. There was one 'analyst' who had a different opinion. He said that not only would the 1,000 barrier become a thing of the past, he predicted 3,000 could be reached as well.

[Ulgnud]

Well I am sure the millions of un and under employed will be really impressed. Especially when Obama wants to give Amnesty to another 11 million or so illegal invaders to join the currently unemployed. We never came out of the recession. Too many people are still struggling, even if they are the lucky ones with jobs.

[hypnotoad72]

and back down to 9000 by 2015.

Whee.

[dickkahrs]

I agree but probably sooner.

[Yekurt]

Listen carefully: over the course of the next year (2013) the Market will rise above 15,000, then right after busting 15,000 it will crash. It will rise above 15,000 no matter what happens and it will crash no matter what happens. Just food for thought.

[hypnotoad72]

They won't listen. Most people are so groomed to think it's all a partisan issue... and while stuff like the following has a partisan bent:

http://www.ontheissues.org/SenateVote/Party_2005-63.htm

Most of Obama's actions have been caving to the GOP and later saying "oops, we made a mistake". Right down to big insurance-friendly Romneycare:

http://www.msnbc.msn.com/id/3096434/vp/40575006#40575006

http://www.foxnews.com/politics/2011/10/11/romneys-advisers-met-with-obama-to-help-craft-obama-care/
(Forbes and others put out similar articles...)

Would a republican be bringing in people from "the other party" as frequently as Obama has? (Gregg, Hagel, Dimon, and others, I'm not typing out the complete list...)

Granted, Obama could be doing a "long game" tactic - in using his opponents' plans to show how wrong they truly are. Which made sense, for roughly 3 years. But even during the election, Obama said - and web search this - he said he would go "more than halfway" to work with the GOP.

But I could be reading into things waaaaay too much. We'll see what happens. A lot of people, including me still have faith, but who knows either way...

[dickkahrs]

I agree but I don't think it will get to 15,000.

[Public-software-tester]

14,000.97 points, printed out of thin air, not only does it show the impossibility of such a double digits. its not a free system, because the federal reserve keeps printing out money and gives to banks.

[ZannZelsVictoryDance]

Excuse Number 1: If its good news, its a lie.

[hypnotoad72]

Agreed.

What you stated has more in line with corporatism than anything approaching a "free market", never mind the misconstrued claims of "socialism" others amusingly mistake it as being...

[ZannZelsVictoryDance]

What?

You mean things are looking UP since 2007?

Well that means what? 2007 was under a Republican.

And after 4 years of a Democrat to clean up the mess, the smoke is clearing!

Y'all....lets just NOT go back to a Repub again!!!

[Filmguy870]

..hmm..sounds like a socialist agenda to me!!!

[hypnotoad72]

Socialism = bailing out the workers.

Corporatism = bailing out the corporations (a la TARP, QE1, QE2, QE3, operation twist, trickle-down economics, etc...)

Which do you think we have?

Hint, it's hardly socialism... and I doubt you're on the side that benefits from corporatism.