Dow Nears All-Time High, But Longer Wait Possible on Sequester (DIA)
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The Dow Jones Industrial Average (NYSE: DIA) is creeping higher today, nearing a potential record that hasn't been seen in over five years.
With the index at 14,123.95, it is just 0.5 percent away from 14,198.10, which was hit in October 2007. The index closed at 14,164 on October 9, 2007.
Today's data moving markets higher includes lower-than-expected initial jobless claims of 344,000 as well as Chicago PMI coming in at 56.8, versus the Street consensus reading of 54.0.
It may be unlikely that the Dow hits a new record on Friday, with the first of across-the-board federal spending cuts set to kick in on March 1st. Obama and congressional leaders are slated to meet at 10am Friday to discuss possible plans to avoid the sequester.
The Dow is up 0.4 percent Thursday afternoon.
With the index at 14,123.95, it is just 0.5 percent away from 14,198.10, which was hit in October 2007. The index closed at 14,164 on October 9, 2007.
Today's data moving markets higher includes lower-than-expected initial jobless claims of 344,000 as well as Chicago PMI coming in at 56.8, versus the Street consensus reading of 54.0.
It may be unlikely that the Dow hits a new record on Friday, with the first of across-the-board federal spending cuts set to kick in on March 1st. Obama and congressional leaders are slated to meet at 10am Friday to discuss possible plans to avoid the sequester.
The Dow is up 0.4 percent Thursday afternoon.
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