It’s another landmark day on Wall Street as the Dow Jones industrial average surpassed the 13-thousand mark for the first time after opening this morning. Financial advisor Jim Tausz, of the Bradford Financial Center in Clarion, says it’s "fantastic news for America."
Tausz says, "This economy is going very, very well. It’s better than it’s ever been. There are a few sectors, obviously, that aren’t doing as well as others, but the point is, overall, when you look at the broad picture, I am not surprised the Dow Jones is hitting new highs."
The Dow is the stock market’s best-known indicator and covers 30 major stocks, what Tausz calls "backbone" stocks. He says the landmark of 13,000 is good news for the nation. Tausz says: "It’s really neat to see. It’s going up like a scalded dog, so to speak, and I think we’re going to see a very, very strong market, not only now but by the end of the year, we’re going to see overall a stronger market, not just the Dow Jones industrial average."
He says to keep today’s landmark in perspective as he predicts some people will be taking their investments out now to reap the profits, which will bring a "readjustment" in the market — which he reminds, is in a constant state of ups and downs.