Market Reached New 2009 Highs

[pennypinch]

Hey, this is good news folks. Cnn Money says that the stock market reached new highs today for the year! They say that the reason for this is because of comments made by Fed chief Ben Bernanke and also a stronger-than-expected retail sales report.

The Dow Jones industrial average gained 57 points, or 0.6%, ending at its highest point since last Oct. 6. The S&P 500 index rose 3 points, or 0.3%, ending at its highest point since Oct. 6. The Nasdaq composite climbed 11 points, or 0.5%, and closed at its highest point since Sept. 26.

CnnMoney

Tuesday morning stocks were a bit unsteady but they found a way to gain ground as the day went on. The comment that Bernanke made about the recession being nearly over is said to have had an impact.

"I think what we're seeing is continued evidence of anxiety about all the cash on the sidelines missing the early stages of a bull market," said Hank Smith, chief investment officer of equity at Haverford Trust.
He said that this factor was bringing buyers in at the dips and was likely to keep doing so in the weeks ahead.

Maybe things will be looking up soon. I am so tired of feeling so pessimistic!