Stocks Fall after Hitting Milestones (Bloomberg)
Two major stock indices reached significant milestones today: the Dow Jones Industrial Average hit 16,000 for the first time, while the S&P 500 went above 1,800 several times over the course of the day. Unfortunately, both indices finished the down for the day, below these benchmarks. “As we keep going and making new highs, we get into new territory and the air keeps getting thinner and thinner up here,” Tim Hartzell, chief investment officer at Sequent Asset Management, said. “Everybody is watching Yellen and feel comfortable that she’ll continue QE, maybe even put more into the system.”
Do you think the markets will rise above these high-water marks, or did today’s performance represent a peak for these indices? We welcome your thoughts below.