The Dow Jones is creeping toward its all-time-high and just one good day of trading could bring it to that milestone. According to Reuters on Tuesday, Feb. 12, 2013, the Dow hit its all time high back in 2007 when it closed one day in October at 14,198.10.
For the last month the Dow has been hovering around the 14,000 mark. The S&P hit a five-year-high a little under two weeks ago, on Feb. 1. According to Reuters, “The market has had to consolidate strong gains at the year's start while investors search for reasons to drive stocks higher.”
Barack Obama’s State of the Union speech is scheduled for 9 p.m. tonight and the major themes are predicted to be jobs and economic growth. Investors have been looking forward to Obama focusing on the economy, which is believed to have helped fuel the Dow gains in recent weeks.
Investors will be watching and listening to the speech tonight taking everything into consideration right down to the tone of the speech. They will also watch for signs in the content of the speech that a possible deal with Republicans may be near, which would “avert automatic spending cuts due to take effect March 1."
The Dow was up 58.06 points today at 14029.30. Again, the market is just one good day of trading away from breaking its own all-time-high record. The State of the Union speech tonight is one of the factors that could help push the Dow over the top of its previous highest point in the coming days.
Comments