U.S. Stocks: Dow Jones Industrial Average Hits 14,000 For First Time Since October 17, 2007

by Colonel on February 1, 2013

“This morning the Dow Jones Industrial Average hit 14,000 for the first time since October 17, 2007.

The last time we got to 14,000 it was thanks to the explosive growth of infrastructure building and commodity consumption in the emerging markets along with a peaking credit bubble – the likes of which the world had never seen before. …

This time we’re getting to 14,000 under different circumstances -  benign inflation, an improving private sector jobs picture, home prices just starting to lift in many markets, a chastened and delevered banking system, two wars winding down and we’ve got an investor class that is obsessed with bonds and just beginning to show interest in stocks – January 2013 was the best monthly inflow to equity funds since 1996 after five of the worst years on record.

” — Joshua M. Brown, Copyright 2013 StockTwits Inc

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