Stock Market Soars to Record High [AUDIO]
UNDATED – The Stock Market has been soaring lately. The Dow Jones Industrial Average hit an all-time high this (Tuesday) morning, topping the old record set in October of 2007.
The Dow is now up nearly nine percent for the year, and has doubled since bottoming out at a 12-year low in March of 2009.
St. Cloud State Economics Professor King Banaian says the new high is a good sign, but things like gold and oil still have a long way to go.
The Nasdaq and S&P 500 are also up sharply.
One of the factors behind this year’s stock market rally is the improving housing market. U.S. home prices jumped in 9.7 percent in January, compared to the year before.