Filed under: News, The Economy
Shares on Wall Street broke through a psychologically significant level on Wednesday when the Dow Jones industrial average rose above 12,000 points for the first time since the financial crisis of 2008.
The index of 30 blue-chip stocks crossed 12,000 shortly after the market opened on Wednesday and reached as high as 12,020.44 before noon. But it was unable to sustain that level over the course of the day, and dropped above and below the threshold several times. If the Dow closes above 12,000, it would be the first time since June 19, 2008, before the financial crisis threw markets into turmoil.
While the breakthrough was a milestone, many analysts said they were watching the Standard & Poor's 500-stock index, which has been nearing 1,300 points, as a gauge for broader market strength.
The last time the S.& P. 500 closed above 1,300 was on June 25, 2008.
Read the rest on The New York Times.
BV -- Talk Back!
Questions:
-Do you think this is a sign of strong economic recovery?
-Has the economy improved in your area?
-If you own stock, have you seen the performance of your portfolio improve?
Leave your comments below!