AN ABNEY AND ASSOCIATES
Last Friday, the Dow Jones Industrial Average — the benchmark stock index of America’s blue chip companies – closed above 14,000 for the first time since the financial meltdown sent the U.S. economy into the worst crisis in decades. The continued resurgence of the U.S. auto industry and growing optimism about the overall economy helped propel the Dow above the psychologically important 14,000 point level. The surging Dow is an indication of the increasing financial health of the largest American companies, a bright spot in an otherwise shaky U.S. economic recovery, particularly with respect to unemployment.
America’s blue chip firms — including industrial giants, banks, and auto companies — are healthier than they’ve been in years. But what about the largest U.S. tech companies? Like the other major stock indices, the tech-heavy Nasdaq index is at or near multi-year highs. On Friday alone, the Nasdaq rose 1%, nearly touching the index’s five-year high, which it hit last September, driven in part by tech juggernaut Apple [...] Source: http://business.time.com/2013/02/04/as-the-dow-soars-how-high-can-tech-stocks-go/
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