Dow Surpasses All-Time High
by Flexo on September 28, 2006
in Investing
Everyone is aflutter with the news that the Dow Jones industrial average traded above its record high close this morning. I’m not sure these benchmarks really matter. It may have a small psychological effect, with selling off in the short term, but I’m not too concerned.
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Flexo, the owner and creator of Consumerism Commentary, has been blogging and writing for the internet since 1995 and has been building online communities since 1991. Find out more about him and follow him on Twitter.
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I didn’t get all that excited over the “new high” this morning. For starters, The Dow Jones Industrial Average isn’t exactly our best measure of the economy. The S&P is way off its all time high and Nasdaq, well, we don’t need to talk about that. Normally a fresh high for the Dow would spark excitement and probably a broad-based international rally, however, today’s greeting was totally unexciting. Perhaps the lukewarm GDP numbers and appaling housing data have people thinking more conservatively about the markets.