It looks like the economy may be picking up and the major stock indices are posting encouraging gains. Just yesterday, the Dow closed up 125 points (1.2%) and all 30 blue chips advanced (yeah, every Dow company had a boost).
More than that, the Nasdaq closed above 2,000 for the first time in about two years (which was just before the second dip of our recession). Even the S&P 500 gained 1.2% yesterday. Though I’m hoping in the back of my mind that this isn’t just a case of holiday-time exuberance, the experts tend to agree that things are looking up:
“By and large, the news is positive, and the economy is perking along so unless we have some sort of terrorist activity or some other negative event, I would expect the positive momentum to continue through the week,” said Andy Brooks, head of equity trading at T. Rowe Price.