As the red, white, and blue of Old Glory celebrates it's 235th birthday, Wall Street was in a generous mood by giving nearly a trillion dollars in gains this week. To be more precise, the US stock market rose every day this week, increasing by a total of 5.6 percent, as measured by the broadest US stock index, the Wilshire 5000. This 5.6 percent gain translates to about $910 billion dollars.
According to Wilshire Associates, this was the best week for the US stock market in nearly a year, which is now:
- 115.4 percent higher than the March 9, 2009 market bottom.
- 2.7 percent higher than the highest year-end close ever in 2007.
- 3.3 percent from the all time US stock market high on October 9, 2007.
Now if we could only have about 15 more weeks like this one, we could pay off the national debt. But since that is not going to happen, my advice would be to just enjoy the gain for the three-day celebration. Thanks for the trillion bucks, Wall Street!
Note: image from deviantart.com.