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The Stock Market Closes At Another Record High

By Erik Folgate

The Dow Jones and the Nasdaq closed at record highs today at 13,633 and 2,592, respectively. Now, the question is, when will the Dow hit 14,000 and when will the Nasdaq hit 3,000? Today was a significant one, because we saw the market pull through some early news from China and the release of the Fed’s minutes that could have caused the markets to dip down. Last February, the market saw a 9% drop, one of the largest in history, after bad news from China. Today, the market faultered on reports of a slumping Chinese market, but it quickly rebounded and never turned back.

I think that all of the news about acquisitions and mergers has really bolstered the U.S. market and economy lately. Corporations are making a lot of smart moves and investors are into it. It’s amazing that even though the oil prices are unbelievably high, that the market can still do so well. We really are in a time of huge economic growth, and it doesn’t seem like there is that much room to worry. The growth is a steady growth, and it’s not based on unproven profits like the dot com boom promised.

Money Crasher Viewpoint on Investing:
The best time to start investing is NOW. Don’t worry about what the economy is doing now or what it will do a year from now. If you want to invest for the long-term, you will be able to ride out the waves of the market over the long-term. The longer that you wait to invest in the stock market or the more that you pull your money in and out of the market, the more you will lose out on profitable days like today.

Erik Folgate
Erik and his wife, Lindzee, live in Orlando, Florida with a baby boy on the way. Erik works as an account manager for a marketing company, and considers counseling friends, family and the readers of Money Crashers his personal ministry to others. Erik became passionate about personal finance and helping others make wise financial decisions after racking up over $20k in credit card and student loan debt within the first two years of college.

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