The Market is Up
The Dow closed at 14,087.55 today, which is a smashing start to the month of October. But will it stay above 14,000 for long? I highly doubt it. Even if you don’t follow the market you’ll probably remember the buzz the Dow generated when it touched on 14,000 briefly in July, only to drop below 13,000 during August. And now the housing market is in shambles, banks are facing huge declines in earnings, and we’re quickly approaching the 20th anniversary of the market crash of 1987.
Interestingly, on the day that investors are celebrating the surging Dow, people are remembering the 20th anniversary of the 1987 stock market crash. People, though, shouldn’t avoid the markets just because times are uncertain. MarketWatch points out that “$10,000 invested in the Dow on Friday, Oct. 16, the last trading day before the crash, and held until the present would still have more than quintupled.”
Former Federal Reserve Chairman Alan Greenspan said in an interview that there was less than a 50-50 chance that the US economy would slip into a recession, he also believes that the current credit slump may be ending.
Is the worst behind us, or is it yet to come? Thoughts, anyone?
Aaron Nelsen is the webmaster and senior technology editor. He's a career geek, coffee enthusiast, Apple fanboy, and accomplished barista pimp. They've written 407 articles for Hijinks Inc.
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