Dow Jones Industrial Average Crosses 13,000 for First Time
In case you weren’t watching, the Dow Jones Industrial Average crossed 13,000 this morning for the first time in history.
As you can see, it crossed the 13,000 line three times by just a few minutes after 10:00. Of course, this market is based on 2007 dollars, which are fairly weak. If you were to index this to the high in 2000 based on the value of U.S. dollars in 2000, we probably still have some ground to cover. But psychologically this is good for the markets in general.
CNBC’s Jim Cramer is predicting that the DJIA will be above 14,000 by the end of the year. I like that kind of optimism, and I hope he’s right, but I wouldn’t bet the farm on it.
As you can see, it crossed the 13,000 line three times by just a few minutes after 10:00. Of course, this market is based on 2007 dollars, which are fairly weak. If you were to index this to the high in 2000 based on the value of U.S. dollars in 2000, we probably still have some ground to cover. But psychologically this is good for the markets in general.
CNBC’s Jim Cramer is predicting that the DJIA will be above 14,000 by the end of the year. I like that kind of optimism, and I hope he’s right, but I wouldn’t bet the farm on it.
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