Forget about high unemployment, rising oil prices and Europe’s debt crisis.The Dow is back.
The NY Post reports that stocks hit recovery milestones across the board yesterday, showing that investors at last have reclaimed the over $9 trillion wiped out four years ago during the depths of the nation’s worst recession in decades.
Most investors with 401(k)s cheered a three-way victory as the Dow Jones industrial average broke through the psychologically important 13,000-point threshold to end at 13,005.12, up 23.61, for its highest closing price since May 19, 2008.
The two other exchanges — the Standard & Poor’s 500 index and the Nasdaq — had already crossed into recovery territory in recent sessions, leaving the Dow struggling for more than a week to catch up to the parade. The S&P, which had previously crossed into its 1,300-point comeback territory of 2008 about a month ago, ended at 1,372.18, up 4.59, a gain of 9.11 percent for the year. The Nasdaq ended just shy of a 10-year high, closing at 2,986.76, up 20.60. It’s up 14.65 percent for the year….
Read more: http://www.nypost.com/p/news/business/aids_rOVMTWxi4c1JxaCJv39RLM#ixzz1nkhm3Xyn
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