Many exchange traded funds (ETFs) increased today as the Dow Jones industrial average index rose almost 200 points to a new trading high. This is the first time in 2 1/2 months that the Dow was above 14,000 reports Joe Bel Bruno for the Associated Press. Currently, the Dow is up 12.8% year-to-date.
The Dow’s jump comes at the beginning of the fourth quarter. Some experts believe it could be a sign that the worst of the subprime and credit problems have ended. In addition, some analysts believe the Federal Reserve might cut interest rates again based on a report that showed that manufacturing grew in September at the slowest pace in six months.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.