NEW YORK — The Dow closed above 14,000 on Friday for the first time in more than five years.
Sure, it was just a number on a board. But it was enough to raise the hopes of some investors and cause others concern about an overheated market. And it brought reminders of a different era, back before the financial crisis rocked the world economy.
The Dow Jones industrial average, a stock market index that is supposed to be a benchmark for how the entire market is faring, had been rising fairly steadily for about a month. On Friday, strong auto sales and optimism about U.S. jobs pushed it over the mark. The Dow is now just 155 points away from its highest close ever.
“There’s a newfound enthusiasm for the equity market,” said Jim Russell, regional investment director at U.S. Bank Wealth Management in Minneapolis.
Because what's good for the United States and for Americans is bad news for the Little Limbaughs.