- Shoe-bomb witness to speak from London at N.Y. trial
- New evidence could threaten Army sex assault case
- George Zimmerman signs autographs at Orlando gun show
- GOP lawmaker faces fire for NBA crime tweet
- Taliban vow to ‘use all force’ to disrupt Afghan elections
- Atheists sue to remove ‘Ground Zero Cross’ from 9/11 museum
- Bishop in Aleppo: ‘We Christians live in fear in Syria’
- Oscar Pistorius vomits during graphic testimony
- Toronto Mayor Rob Ford flubs daylight saving time advice: ‘Turn your clocks back’
- Americans don’t support sending U.S. troops to Ukraine
Stock market closes in on record high
Wall Street is poised to hit new milestones next week with the Dow Jones Industrial Average and Standard & Poor’s 500 both approaching record highs.
The Dow edged above the 14,000-milestone at Friday’s close, and is now just 165 points away from breaking its all-time high of 14,164.53 on Oct. 9, 2007.
The Dow, Wall Street’s benchmark index, finished up about 120 points Friday to close the week at 14,000.57.
Meanwhile, the S&P closed Friday up 13 points at 1,515.60. The index saw its first losing week of the year, after closing Monday at 1,530.94, but it is still within striking distance of the record high of Oct. 9, 2007, when it closed at 1,565.15.
While some are warning the markets are overpriced, some market experts predict that the Dow could flirt with 15,000 and the S&P could hit 1,600 by the end of the year.
The rally has come despite rising gas prices, a sluggish economy and a continuing standoff in Washington between President Obama and congressional Republicans over “sequester” across-the-board spending cuts to the federal budget set to take effect March 1.
The Nasdaq, which closed Friday at 3,161.82, remains a long way from its March 2000 high of 5,048.62.
© Copyright 2014 The Washington Times, LLC. Click here for reprint permission.
About the Author
Tim Devaney is a national reporter who covers business and international trade for The Washington Times. Previously, he worked for the Detroit News, Grand Rapids Press, Portland Press Herald and Bangor Daily News. Tim can be reached at email@example.com.
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