Stock market soars - WALB.com, Albany News, Weather, Sports

Stock market soars

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The Dow stock market index closed above 14,000 Friday for the first time since before the financial crisis rocked the world economy. It hit that milestone for the first time since October 2007.

The Dow has nearly doubled since its low point in March 2009, and it's already up 6.9% this year.

Albany investment advisor Vic Sullivan says that's good news for investors, and even people who aren't in the stock market. "Many 401K plans are seeing substantial increases in valuation versus where they were the last few years. That has a lot of impact on, not just their own personal situation, but it actually has a pretty big impact on the overall economy," said Sullivan, the Branch Manager at Wells Fargo Financial Advisors in Albany.

That's because when investments are doing well, people generally spend more money. That leads to a stronger economy and more jobs.

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