Despite mixed economic reports, the Dow Jones Industrial Average ended above 13,000 yesterday for the first time since May 2008. Although the numbers were close last week, almost hitting the 13k mark, they weren’t able to inch high enough as investors were worried about escalating oil and gasoline prices.
Reports of the gain came early Tuesday morning and remained steady for most of the day. On a positive trend this year, Dow numbers have been on an uptick since January when they hit numbers not seen since 1997. Standard & Poor and Nasdaq numbers broke ground as well, hitting numbers not seen since June 2008 and December 2000 (respectively). Just last summer when stocks fell, investors were worried about the European debt crisis, gridlock in Washington over the federal borrowing limit, a downgrade of the U.S. credit rating, and the threat of another recession continuing the slump. Although things seem to be improving, nothing is for sure yet.
Can we celebrate the good times, or is this just a minor flutter in the rocky financial world?