Today, a report showing a jobs increase and positive comments from the Federal Reserve on the economy contributed to further rises in stocks, extending the all-time high in the Dow Jones Industrial Average.
Today, the Dow Jones Industrial Average hit 14,286.37 points, marking a new all-time high.
The Dow Jones Industrial Average closed today at its highest point since 2007, as investors were encouraged by the prospects of the Federal Reserve continuing its stimulus measures.
Today, more data came in better than expectations, this time concerning consumer confidence and manufacturing. These countered losses early in the day and resulted in an overall gain in the markets by closing time. The market mostly ignored the beginnings of the sequestration.
Government reports showing end-2012 economic expansion and a bigger-than-expected decline in jobless claims last week led to increased optimism, and investors responded by pushing the Dow Jones Industrial Average closer to an all-time high.
Today, stocks rose one percent, as data showing strong January business spending and new home contracts proved encouraging to investors. Also contributing to the boost was Federal Reserve Chairman Ben Bernanke’s reiteration of his support for the Fed’s stimulus policy.