Dow soars to record high despite dire predictions - WALB.com, South Georgia News, Weather, Sports

Dow soars to record high despite dire predictions

ALBANY, GA (WALB) -

Despite all the dire predictions of how the sequester could hurt the economy, stocks soared to an all time high, Tuesday.

The Dow Jones Industrial gained more than 100 points.

It closed above 14,253 which beat the previous record set in 2007

Experts credit a housing market surge and an optimistic hiring outlook.

An Albany financial advisor says the stock market could go higher despite the federal spending cuts.

"Nobody has a crystal ball, but more than likely this is a rally that we expect to continue at least in the short run. It is always possible that we can see this thing come back down, but I doubt we're in for a major pullback," said Wells Fargo Financial Advisor Victor Sullivan, IV.

Sullivan also says strong earnings from some major corporations contributed to the recent upswing in the stock market.

 

Copyright 2013 WALB.  All rights reserved. 

  • More WALB News10 HeadlinesMore News HeadlinesMore>>

  • Rainfall Gauge

    Rainfall Gauge

    Today: 0.00": Monthly Total 2.13"; Normal for the Month 3.70"; Yearly Total 15.17"; -/+ Year to Date -2.50".

    More >>

    Today: 0.00": Monthly Total 2.13"; Normal for the Month 3.70"; Yearly Total 15.17"; -/+ Year to Date -2.50".

    More >>
  • Family gives update on Baker Co. attack victim, starts "GoFundMe" account

    Family gives update on Baker Co. attack victim, starts "GoFundMe" account

    Sunday, April 30 2017 10:15 PM EDT2017-05-01 02:15:18 GMT
    (Source: Family Photo)(Source: Family Photo)

    A Baker County woman continues recovering in the hospital after being attacked in her home nearly one week ago. The Georgia Bureau of Investigation said two suspects attacked Georgia Mae Green Griffin in her Baker County home Monday.

    More >>

    A Baker County woman continues recovering in the hospital after being attacked in her home nearly one week ago. The Georgia Bureau of Investigation said two suspects attacked Georgia Mae Green Griffin in her Baker County home Monday.

    More >>
  • Citizens turn out for "Fight Albany Blight" town hall

    Citizens turn out for "Fight Albany Blight" town hall

    Sunday, April 30 2017 10:13 PM EDT2017-05-01 02:13:56 GMT
    (Source: WALB)(Source: WALB)

    The attempt to fight the blight in Albany continued over the weekend. Saturday, city leaders held a town hall to talk to citizens about their problems with vacant and abandoned properties.

    More >>

    The attempt to fight the blight in Albany continued over the weekend. Saturday, city leaders held a town hall to talk to citizens about their problems with vacant and abandoned properties.

    More >>
Powered by Frankly