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September 27, 2006

Dow Jones Index Near All-Time High

An economic story that's flown under the radar is the rise of the stock market to near-record heights. It's almost come back from the Internet stock-charged bubble that burst in 2000:

The Dow Jones industrial average is just 53.59 points away from its all-time high close, going into today's trading. In pre-market trading, Dow Jones futures are up 3 points, S&P 500 futures rose 0.5 of a point, and Nasdaq futures rose 2.8 points.

On Tuesday, the Dow industrials closed at its highest level of the year, as investors reacted to a consumer confidence survey that appeared to show an economy not floundering as some had feared, but not growing too much to spur inflationary pressure. The Dow climbed 93 points, the S&P 500 rose by nearly 10 points and the Nasdaq Composite rose 12.3 points.

The all-time high on the Dow is 11,722.98, reached in January 2000.

When Bill Clinton was President I remember his administration touting new stock market high after new stock market high as a sign of their success in managing the economy. I think President Bush and the gang should do a little crowing of their own.

"Dow Just 53.59 from All-Time High Close"

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Posted by Sean Hackbarth in Economics at 08:57 AM | Comments (0) | Trackbacks (0)