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Dow Supercharges 13000 Mark, Makes History

Written by admin in Thursday, April 26th 2007 under Recently

Today Wednesday, the 25th April of the year 2007, DOW Jones Industrial Average cruised past 13000 mark with the strong earning reports from corporate sector, raising many eyebrows both in surprise and in shock. While rocketing the last 1000 points took only 129 tradings sessions, the penultimate 1000 points took some 7 1/2 years. As investors continue to sideline analyst’s pessimistic lower expectation for the Q1 results, news from strong orders on durable goods and number of new job openings in most segments, powered the Index to propel. Hope it continues to show this stride during its upward movement only.

How far this figure can hold, while in one hand the crude oil prices per gallon moves towards $66 on the other the exchange rate for the dollar continues to nose dive. Seems like this movement is only driven by strong earnings and nothing else. Which is a good sign for the economy, but only if the Index holds. Keep your fingure crossed…

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