Connect with us

Hi, what are you looking for?

DOGE0.070.84%SOL19.370.72%USDC1.000.01%BNB287.900.44%AVAX15.990.06%XLM0.080.37%
USDT1.000%XRP0.392.6%BCH121.000.75%DOT5.710.16%ADA0.320.37%LTC85.290.38%
THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Finance

Finance

Dow Reaches All Time High

The Dow Jones Industrial Average has now reached an all time high. It advanced 0.6% to a whopping 16,676.20 as of monday at 11:27 am in New York.  Experts are thanking the tech industry and the ruble for the positive Dow trend. The big tech firms such as Twitter and Facebook share prices took a big hit last week (Twitter as much as 18%), and their modest recoveries on monday made a big impact on the Dow. Twitter rose 4.3% and Facebook came up 3.7%.

Terry Morris, Senior Equity Manager at National Penn Investors Trust Co., explained “We’ve had a big divergence between large cap versus small cap, and growth versus value. If you look at the Russell 2000 and some of the technology or Internet-related stocks, they’ve really taken a pounding.” So the fact that some of them seem to be doing better places a little more faith in their standings in the stock market.

An all time high in copper also helps explain the strength of the Dow. It is now at $6,930 a metric ton, the highest its been since March 7. Other raw materials such as nickel and oil have also seem a gain. West Texas Intermediate oil is up 0.8% at $100.78 a barrel. The Russian ruble has also been strengthening since the country’s involvement in Crimea/Ukraine. Experts believe that Russia seems to respect two referendums that Ukrainians said back autonomy.

“The global economy is accelerating, central banks are dovish, companies are making acquisitions and it’s hard to see what could keep the market down from here,” said Allan von Mehren, chief analyst at Danske Bank A/S in Copenhagen. Indeed, it looks as if the dark days are becoming a little lighter.

 

 

Photo: Courtesy


Comment Template

You May Also Like

Entertainment

Michael ‘Virgil’ Jones, US Wrestling Star, Passes Away at 61 On Wednesday, the wrestling world mourned the loss of Michael Jones, widely known by...

Economy

THE FUTURE OF THE STOCK MARKET IN 2023 Is the stock market headed for a boom or a crash in 2023? See the latest...

Entrepreneurship

A stock market paradox, in which negative economic news is interpreted as positive for stocks, may have reached its conclusion. If that’s the case,...

Breaking News

The cryptocurrency market hoped that the contagion and shakeout of the last few weeks was about to end as Bitcoin surged above $22,000 on...

Notice: The Biznob uses cookies to provide necessary website functionality, improve your experience and analyze our traffic. By using our website, you agree to our Privacy Policy and our Cookie Policy.

Ok