So how's the economy? - WALB.com, Albany News, Weather, Sports

So how's the economy?

September 27, 2006

Albany -- The Dow Industrials Average once again traded near it's all time closing high, but fell short by about 33 points to end the day at 11,689.  

The near record Stock Market trading has some South Georgians buying stock for the first time.  The Dow Jones industrial average was off its earlier high, finishing up 20 points, or 0.2%, and tantalizingly close to its record high close of 11,722 in January 2000.

Falling oil prices, strong consumer confidence, and the Fed not raising interest rates are some of the reasons for the stock market surge.

Financial consultant Vic Sullivan says the good economic news has people buying stock.   "Mom and Pop happens to see that the market is hitting record highs, and all that over a period of time, you usually have some people come in and finally say maybe we need to go and buy some stocks. Those are the people who usually come in late and last."

Sullivan said he expects the Dow to keep growing to new record levels with the strong economy.

Feedback: news@walb.com?subject=Economy/JW

 

Powered by WorldNow