Markets Hit Several Multi-year Highs

Markets Technology Stocks
by 

U.S. financial markets gained roughly 2% today, pushing them to levels not seen in years. Here’s how long it’s been since the following things happened:

  • S&P 500 breaks 1,430: The benchmark U.S. index hasn’t been this high since the last week of 2007 after gaining 28 points today. It has now gained close to 10% this year.
  • Nasdaq Composite breaks 3,130: The last time the tech-heavy index reached this level? You have to go back 12 years, to the height of the dot-com boom, in July 2000. It’s doubtful the index will soon eclipse the 4,500 level it reached that year, however…if ever. Still, the Nasdaq’s gains are dwarfing the other markets. The index is up 18% for the year.
  • Dow Jones Industrial closes at 13,292. Today’s 244-point move pushed the index to a level not seen since December 2007 – much like the S&P. The Dow is now up more than 7% in 2012.

Those are some pretty staggering numbers – particularly given the uncertain financial climate we’re still in. What’s even more staggering, however, is that the markets could go higher yet this month.

If tomorrow’s jobs numbers are better than expected and next week’s anticipated Apple (NASDAQ: AAPL) iPhone unveiling blows investors away, then this time next week we may be talking about new multi-year highs for the markets.

To top