Dow reaches 16,000.

18th November 2013

Ian Copelin, Investment Director, my wealth, comments “In the US, the Dow Jones has today risen above 16,000, while the broader S&P 500 Index traded above the 1,800 level for the first time ever.  The technology heavy Nasdaq Composite Index is also on the verge of breaking through 4,000 – a level it hasn’t seen since September 2000 (just after the tech market collapsed).

The Dow Jones is currently up 52 points at 16,013, after rising as high as 16,030 shortly after it opened at 2.30pm UK time.

Europe & Asian equity markets provided the backdrop for the positive US opening, following positive Eurozone economic data (trade surplus) and the announcement of economic reforms in China (opening up the financial sector and relaxing restrictions on investment).  US markets have also been helped by speculation that the current US stimulative monetary policies will continue if the Fed chairman Ben Bernanke is replaced by the Fed vice chair Janet Yellen”.