SPRINGFIELD, Mass. (WWLP) – The Dow Jones industrial average rose 111 points to close above the 17,000 mark for the third time this month, and for only the third time ever…. and it’ welcoming news.
Last week, between problems with the Portugal bank, oil prices, and tensions in the middle east, the Dow took a hit. But today’s mark shows promise for consumers, and the economy.
“Usually the stock market is a forward looking predictor of the future, so the fact that the market is hitting new highs, consistantly over the last twelve months tells us the next twelve months should be very good in the economy and the stock market,” says Mark Teed, financial advisor of Raymond James
Teed says the reason the Dow did so well today was because of merger announcements, including swiss chocolate maker Lindt’s announcement to buy Russell Stover.