Market Watch: 2013 Bull is Finding New Legs to Run On

RMI-Market-Watch

Investors embraced this week in the same fashion they have been embracing 2013, stocks continued to rally. The difference that sets this week apart from most of 2013 rallying is the motivation that is driving higher investment volume. This week, markets are going up on reaction to good economic news, something that strays away from the theme of most of 2013’s market climb.

The Nadaq, S&P 500 and the Dow Jones all finished the day up.

The Dow Jones finished at 16,025.23 (+0.03%)

The S&P 500  finished at 1,808.37 (+0.18%)

The Nasdaq finished at 4,068.75 (+0.15%)

For most of 2013, investors have responded negatively to good economic news, as it was widely assumed that reports of a good economy would result in the ending of Quantitative Easing, the Federal Reserve stimulus plan that has been pumping $85 billion a month into the market.

However, this week is different. Either investors no longer believe that the Fed is ready to end Quatitative Easing, or they are finally ready to believe the economy can support the high share prices that the recent bull market has produced.

The positive news cited for today’s rally is the better-than-ecpected jobs report from Friday, showing unemployment has lowered to 7%. There are also some notable mergers on Wall Street which are typically appetizing to investors.

Phil Cannella
Partnered with CBS Radio Network, Phil Cannella reports on the issues most important to the American retiree.
Phil Cannella

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