Posted on 08/11/2016 3:28:01 PM PDT by mdittmar
Stocks closed higher Thursday, with the three major indexes closing at new record highs, amid sharp gains in oil prices and strong quarterly results from retailers.
"I think there are two main drivers here. One of them is oil," said Mariann Montagne, senior investment analyst at Gradient Investments. "The other part is this retail rally."
Thursday also marked the first time since 1999 the Dow, S&P and the Nasdaq posted record closing highs on the same day, according to Bespoke.
(Excerpt) Read more at cnbc.com ...
meanwhile I’m at my all time age.. it means nothing.. we should have been at 25 thousand on the Dow by now
Daily investors can account for short term trends but I think the major reason for stock growth is low interest rates. Where else is an investor to put his money? Formerly safe certificates of deposit and Treasury instruments only yield a pittance. Hold cash you say? Well then beware the often touted negative interest rates and bank buy ins should the loan portfolio go bust. Hold precious metals? That’s fine but has a historically low return and then you have to fear the potential for another Gold Act? The market will adjust when inflation and interest rates are higher, but until then stocks represent the best way to grow a portfolio. I still follow my father’s advice: buy individual stocks and buy only those stocks that you are willing to hold long term. Remember that stocks only have a real value at two points in time, when you buy and when you sell. Whatever happens in between in irrelevant.
When the levy breaks.....
True. A few economists out there cannot figure why the market goes up right now when growth is so low. It never happened before
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