Nicholas Sargen, chief investment officer at Fort Washington Investment Advisors, points out that investors are more comfortable with stocks now that the uncertainty surrounding the fiscal cliff and politics has diminished.
Moreover, Americans are feeling like things are turning around, with a rebounding housing market, dropping unemployment rate and greater economic stability.
“People are feeling better,” Sargen added.
- SPDR S&P 500 (NYSEArca: SPY): up 16.2% over the past year
- SPDR Dow Jonew Industrial Average (NYSEArca: DIA): 12.0% over the past year
- PowerShares QQQ (NasdaqGM: QQQ): up 13.1% over the past year
SPDR S&P 500
For more information on the broad stock market, visit our S&P 500 category.
Max Chen contributed to this article.
Full disclosure: Tom Lydon’s clients own SPY and QQQ.