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Daily Digit: Dow 16k

Monday, Nov 18, 2013 - 01:08

Nov. 18 - The Dow crosses 16,000 for the first time. Bobbi Rebell reports.

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The Dow hits a record high, ticking above 16,000 on Monday- investors pushing the key index higher on signals the Fed's easy money policies will stay in place for the forseable future. Data from TrimTabs Investment Research shows investors poured some $34 billion into all equity mutual funds and exchange-traded funds in the past four weeks. That's the biggest four-week total since January. Michael Gayed, Chief Investment Strategist at Pension Partners, calls the current market mentality "euphoria". SOUNDBITE: MICHAEL GAYED, CHIEF INVESTMENT STRATEGIST, PENSION PARTNERS (ENGLISH) SAYING: "The world is mesmerized by developed equity performance, which have diverged substantially from asset allocation models, diverged from commodities, diverged from inflation expectations, from emerging markets. When you have such movement, everyone assumes the future is going to look like the past, which means you are going to have more and more money allocated toward equities, because it is the only thing working." S&P 500 also hit a record, crossing 1,800. The Nasdaq Composite neared 4,000, a level it hasn't seen since September 2000.

Daily Digit: Dow 16k

Monday, Nov 18, 2013 - 01:08

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