Dow 14,000!
Thursday, July 19th, 2007Well, it’s not the first time the Dow hit 14,000 but today marks the first time that the Dow advanced above the milestone and stayed there. The market closed at 14,000 exactly today.
It will be interesting to see if there is some profit-taking tomorrow to round out the week and put some downward pressure on the indices, namely to push the Dow back down below 14,000 to close the week just off the record.
The record close comes despite warnings from Yahoo! that future quarters’ earnings growth may be tough to achieve and the expectations may need to be revised downward. Google also posted disappointing numbers.
If we end the week on a positive note of more announcements of solid earnings and investors continue to push the Dow higher you may see some selling early next week. Even if the Dow drops tomorrow it will still most likely end the week up from where it was last Friday. It would have to drop nearly 100 points (about 93 actually) to finish where it was on Friday, July 13th… the Friday the 13th that turned out to be a good day for the bulls!
Here’s looking forward to another week being put in the books. I hope you all have a great Friday and weekend. As always, I welcome your comments and feedback…
