Dow Jones Opens At All-Time Highs And Economic Optimism Hits 15-Month Low!! JIM CRAMER: ‘We all know it’s going to end badly’
March 5th, 2013
Stocks opened higher Tuesday, with the Dow Jones Industrial Average topping its all-time high, boosted by upbeat economic data from Europe and as China pledged to meet its growth targets.
Dow Jones Opens At All-Time Highs
On October 11th 2007, the ‘old’ Dow Jones Industrial Average reached its previous all-time high of 14,198.10 (with the all-time closing high of 14,164.5 on October 9th) as plans for the MLEC were rumored to save the world from the intensification of stress in the interbank funding markets. A week later, the Dow had dropped 5.5%; a month later it had dropped 8.5%; three months later it had slumped 18%. But, this time the ‘wealth effect’ will be different-er.