Dow Industrials start off in record territory
Tuesday morning's opening puts the stock market benchmark above its previous closing high.
Also, the Institute for Supply Management's services index for February was released this morning, showing a better-than-expected rise for this key measure. The reading of 56 rose from 55.2 in January and gave stocks some extra fuel.
And so far at least, the sequester budget cuts aren't having the worst-case-scenario impact on Wall Street. The U.S. fiscal crisis appeared to weigh less heavily on investors today as President Barack Obama stepped up his efforts to work on a way out of the $85 billion in spending cuts. Also, Republicans in the House announced a plan to avoid a government shutdown at the end of March.
All eyes will remain on the stock market as the day progresses.
What goes up, must come down. Or maybe; those who do not learn from history are doomed to repeat it.
I'm keeping my money in a mason jar in the backyard. Y'all have fun now, ya' hear.
wow the DOW just passed the mark set under Bush
except that when it was this high under President Bush unemployemnt was HALF of what it is now under obama
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[BRIEFING.COM] Not much change in the major averages as they remain near their lowest levels of the session. The S&P 500 has widened its loss to 1.2% with just about every sector extending its decline.
However, two rate-sensitive groups-telecom services (-0.8%) and utilities (-0.6%)-have been able to climb off their lows even as the 10-yr yield remains higher on the day (+2 bps at 2.58%).
On the flip side, the energy sector (-1.5%) occupies the bottom of the leaderboard, ... More
More Market News
3 stocks will be in the spotlight Thursday as investors try to make sense of the numbers from the sector.
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