Dow, S&P 500 Close At New All-Time Highs
Source: USA TODAY
NEW YORK The stock market continued its upward march Wednesday, propelling both the Dow Jones industrial average and the Standard & Poor's 500-stock index to fresh all-time highs.
The Dow rose 124 points to a record 14,798, according to preliminary reports. The S&P, after flirting with a record Tuesday, hit a new high of 1,587, up 18 points. The tech-laden Nasdaq composite index rose 57 points 58 points to 3,296.
Stocks were the recipients of a wave of buying interest from investors who view the stock market, despite its lofty trading level, as a better place to park their money when cash and bonds offer puny yields.
Buying picked up after minutes of the Federal Reserve's March meeting were released before the market opened. Those minutes showed that central bankers are debating the timeline for an exit of their easy-money policies. But they have yet to signal an end to the stimulus.
Read more: http://www.usatoday.com/story/money/markets/2013/04/10/stocks-wednesday-4-10/2069785/
IggleDoer
(1,186 posts)... is the worst Socialist ever!
blkmusclmachine
(16,149 posts)Atman
(31,464 posts)I took all my savings and my old 401k and started a private pension plan around the first of the year. My investment adviser warned me to sit tight...Obama was a wild card, he expected all hell to break loose if he can't reach a budget deal with the GOP. We got into some aggressive stuff with the understanding that we just wait out the first year until things settled down. Instead, the market continues to go up, and I've made a bundle.
Damn Obama. I might be able to retire some day after all!
Purveyor
(29,876 posts)I got my clock-cleaned during the tech bubble.
Atman
(31,464 posts)I lost a bundle the last time around, but made it all back -- and much more -- during this cycle. I don't trust these Wall Street fuckers. But my new fund was specifically designed to ride out bad times. Very diversified. >Crosses fingers<
Again, this pension fund was set up EXPECTING a crash, and instead we boomed. I made a lot of money they didn't expect to be there now. I have some serious discussion coming up with my investment adviser.
Atman
(31,464 posts)Like I said...very diversified.
xtraxritical
(3,576 posts)SleeplessinSoCal
(9,144 posts)msongs
(67,441 posts)rtracey
(2,062 posts)I would begin to take some profits..... I know interest rates are still low, but my thinking is take profits, perhaps if young enough (45-55), invest in a long term annuity...you may get about 8%, per year, but check the payout.... 10 years is good, but if sooner, you will lose bonus and all you gained....
slackmaster
(60,567 posts)...at the next dip. I'm happy with my holdings in general, can can weather another cycle or two.
xtraxritical
(3,576 posts)madrchsod
(58,162 posts)by the way ...what is this stimulus the article mentioned?
bhikkhu
(10,724 posts)which is pretty complicated to explain - http://www.latimes.com/business/money/la-fi-mo-fed-minutes-20130410,0,1267120.story
as I understand it, the net effect is to increase the money supply (which decreases in recession due to credit defaults). It generally stimulates economic activity, and works well enough as long as it doesn't cause inflation.
elleng
(131,102 posts)elleng
(131,102 posts)Asian stock markets powered higher Thursday after a U.S. communications company posted a surprise jump in earnings that led to big gains in technology stocks and new highs on Wall Street.
Markets took additional encouragement from the release of minutes from the U.S. Federal Reserve's March meeting, which showed a majority of policymakers in favor of continuing the central bank's bond purchases to help boost the U.S. economy at least through the middle of the year.
http://www.nytimes.com/aponline/2013/04/11/world/asia/ap-world-markets.html?hp