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UPDATED: Dow Closes Above 14K For the First Time Since 2007

Feb. 1, 2013 10:42am Becket Adams

Apparently unfazed by the fact that unemployment has increased to 7.9 percent, the Dow Jones Industrial Average is going gangbusters!

Here’s how the Dow closed today:

And here’s a five-year breakdown:

Yup, as the above charts show, the Dow finally traded above 14,000, something it hasn’t done since October 2007.

Crossing 14,000 means that the Dow is the second major index to post a five-year high in the past two weeks. The Standard & Poor’s 500 for the first time since Dec. 10, 2007 traded above 1,500 last week.

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Comments (50)

11:11
Posted on March 6, 2013 at 12:56pm
I’m reading The Coming Economic Armageddon by Dr. David Jeremiah, good read and puts a lot into perspective highly recommend!

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jameyosteen
Posted on February 3, 2013 at 10:03pm
The above comments…some good, some strange and some very wrong.

Look at simple facts.

Industrial production is down.
Number of people who are working is down.
Cardboard orders are down (shipping)
Number of people who are now “disabled” …way up
Number of people on welfare…way up
Number of people on food stamps…way up
We got to stop the madness.
First rule of charity.
You cannot help others until you have your own house in order.

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ExtremeLeft
Posted on February 3, 2013 at 10:34am
Comrades,

All is well. Our great Socialist and comrade Obama is purposely driving up the market so that in a couple of months the collapse will show the evils of capitalism. The master plan is working for the greater good of the socialist state.
Do not believe the Capitalist mis-information. Also there is no unemployment in the USSA (United Socialist States of America) . Our great leader has made it greater than ever. If you no longer have a place to go for a job our great socialist systems provides a check in perpetuity all from the comforts of your own home. If that is not enough our socialist system provides endless programs that you can apply for. There is no need to worry we will continue to take from the wealthy undeserving capitalist to give to those in need. Don’t believe those lies that Margaret Thatcher once said “The problem with Socialism is that they eventually run out of other peoples money” Simply capitalist propaganda. Comrades the news only gets better. We will soon have greater numbers in our ranks with immigration reform. Have a good day and Long Live Socialism and our great leader Obama.

Formerly EXTREMERIGHT— I have been re-educated

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watashbuddyfriend
Posted on February 2, 2013 at 3:20pm
The DOW, which should be below 7,000, in today’s time, at above 14,000, who is propping it up? Gold should be up near 5,000oz????????????? Gas should be down below $35.00/bbl!

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yiska8
Posted on February 1, 2013 at 8:21pm
This fake stock market drive is pushed by the very people that caused it. It stinks.
You can spray Chanel No.5 on bull****, but at the end of the day, the Chanel wears off and it’s still bull****.
We’ve been in a depression since June 2009. You can’t have recession after recession without calling it a double dip recession. The government won’t even describe it as such, much less what this nation is actually experiencing. Technically, we are in an economic depression. It’s just that the people that should be feeling it aren’t(the takers on welfare/food stamps)and the makers/employed folks who are few and far between are the ones feeling the hard times. And the elites are entertaining themselves by getting the game going again.
Remember that the Dow Jone is owned by the CME(Chicago Mercantile Exchange).
CHICAGO, people!!!!!
Now who do we know that has great friends in that city? Who is running that city and has their hands in the cookie jar? Who will benefit from another crash?
And in case you guys didn’t know,the NYSE is 60% owned by the Germans. Purchased in 2012.

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republic2011
Posted on February 1, 2013 at 8:09pm
Wait till they stop printing funny money… this house of cards will fall.

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- Mojoron
  Posted on February 2, 2013 at 9:10am
  I wish somebody would explain to me: How Apple can make more money in one year than any company in the history of business and have its stock go down; how Amazon can loose money and have its stock go up; how GM can continually loose money and they can spend $2 billion to upgrade assembly plants and the stock remain the same; how the government can continue to print money and the markets go up; how the stock market can go up with unemployment being high and PE ratio’s of some companies are in the 30 to 40 range (the same as they were in the tech boom;) how can small investors make any money on 30 year gov bonds paying 1.5% (which doesn’t cover inflation); why does any country continue to purchase those said bonds at those low interest rates and still make money. Those are just a few of my questions.
  
  Report this comment
KidCharlemagne
Posted on February 1, 2013 at 5:12pm
If you want the condensed version of this story, then here it is:

——————————
“If there’s dissent over what Dow 14,000 means, what’s undeniable is that it’s a rare event: The Dow has crossed 14,000 only 15 times in its history, and the last time was more than five years ago, on Oct. 17, 2007. On just nine days has the Dow managed to stay above the 14,000 mark until the end of trading. Friday’s gains also mean that the Dow is within striking distance of its all-time record of 14,164.53, which it reached on Oct. 9, 2007.

For the average investor, that was all back when the stock market still seemed like a party. Housing prices were starting to ebb but hadn’t cratered. Jobs were abundant, with unemployment at 4.7 percent compared to 7.9 percent now. Lehman Brothers still existed. So did Bear Stearns, Wachovia and Washington Mutual.”
http://www.cbsnews.com/8301-505123_162-57567204/dow-closes-above-14k-for-first-time-since-2007/

How big will the bubble get this time before it bursts?…………and how can you reach Dow 14,000 with 8% unemployment nationwide??

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- AUsername
  Posted on February 1, 2013 at 5:29pm
  by the fed giving free money to the banker and corporate friends.
  
  Report this comment
scribblelicious
Posted on February 1, 2013 at 1:32pm
Just more proof the so called “job creators” aren’t creating any jobs but they are making money off of unemployment. Fox News let this little nugget of truth slip during one of their mid morning shows today.

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- Honestybefore truth
  Posted on February 1, 2013 at 3:33pm
  The stock market, for all intents and purposes, is no longer a vehicle for the average individual’s wealth building. The big players have, without actually conspiring, rigged the system. They use the average investor’s susceptibility and gullibility (thru media) to artificially inflate the market indicators, then before the non-professionals can react they sell off for large profits, as Adam Smith (the pseudo, not the historical) documented in the “Money Game” and “Super-Money”. “The Smart People who bought the stock early are busy selling it to the Dumb People who are buying it late,…” He used some of history’s biggest “bubbles” to corroborate the theory, and this before the dot com or housing crashes. In both cases it was mostly the average and ignorant ( whose greed was fueled by by the Hype) that got shafted. An example would be the all the non-professionals who tried to flip houses and the TV shows that encouraged them. When you see this type of behavior, take your money and run. The Professionals all understand the system and their roles, they don’t need to conspire just play along. Anyone who isn’t willing to do extensive research and commit to large amounts of diligence should steer clear.
  
  Report this comment
thevamprn
Posted on February 1, 2013 at 12:48pm
For any of you who are accounting gurus, how much of the increase in stock prices is related to the continued devaluation of the Dollar from continued fed printing or actual “real” increased profits? Given the continued printing, how much has the Dow actually gone up in real value % wise?

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- UNALIEN
  Posted on February 1, 2013 at 1:48pm
  that is tough as the Gov CPI is a cooked data point,, designed to intentionally under report “real” monetary inflation,
  
  http://www.shadowstats.com/alternate_data/inflation-charts
  
  Report this comment
- Ruckus_Tom
  Posted on February 1, 2013 at 2:21pm
  Exactly. The Dow should be up over 20,000 with all the money that’s being printed.
  
  Report this comment
woodyee
Posted on February 1, 2013 at 11:58am
I don’t think this is anything more than Fed satellites doing their part to keep up appearances. ALL indicators, EXCEPT the market, indicate we’re in the toilet.

Folks, thanks to Gaybama we have more people expecting handouts than people making money for Obammy to steal from. They wait on the sidelines for “the check’ to arrive, while you’re fighting traffic and putting up with tyrannical bosses to earn just enough to keep a roof and food on the table, and what you don’t see is the money taken out of each paycheck to support “Bama-phone!” Lady, illegal aliens, fund public unions and soon Obammy-care – just to name a few, not to mention the freebies in weapons going to enemies of our Country.

Foreign countries are now demanding their gold, which we hold for them; one of them is demanding an accounting.

Unemployment and social services demands are unsustainably high, and we just had a negative quarter; and the DOW is UP? Who, but the blind supporters of the Capt. of the Ship of Fools and Hero of the Stupid, would find this credible economic news?
Heck, Jackaz Jackson is calling for Obammy to confiscate the estimated $6trillion in pension funds to help pay down the debt. Normally we would laugh, unless someone as respectable as Limbaugh says “Don’t laugh.”

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- Fubared
  Posted on February 1, 2013 at 12:07pm
  Well put. The Idol piece will undoubtedly have way more traction than this piece. Sad, that is where we are though. The contraception and 0 care story will have 5x the traction as this. Sad. Will it be an audible boom if no one is paying attention?
  
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P4cooler
Posted on February 1, 2013 at 11:52am
I don’t believe our country’s finances are on solid ground. Our US Dollar is being forged every month by the Democrats illegally created Federal Reserve and President Obama. We are riding high on hype and our country is insolvent. Perhaps this is why the Democrats are hell bent on gutting our 2nd Amendment before the dollar crashes. Something big & bad is on the horizon. Why do we have over 400,000 UN troops on American soil participating in various “exercises”? Too bad we didn’t have a media that would keep us informed! They would rather feed us false information and help antichrist Obama take America to her death. Dow above 14K? Stinks & something is very wrong!

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- woodyee
  Posted on February 1, 2013 at 12:08pm
  Why do we have over 400,000 UN troops on American soil participating in various “exercises”?
  
  Source, please? Also, worthy of a Hot Tip to the Blaze.
  
  Report this comment
Ghandi was a Republican
Posted on February 1, 2013 at 11:40am
It is a bubble propped up on suds, floating upon obamabucks (clouds). Printed and borrowed money handed to banks that have nowhere to lend it. Devalued by it all it’s about 10,000 or a mere 600 above the 9,400 where obama found it (after the crisis and before he hammered the tune “worst crisis ever, worse than the great depression” 2,000 times in 2 Months.
It was all rhetoric that drove it down, and then drove it down further again. Policies kept it there.
Legitimately it should be 18-20,000 without 1 single penny of stimulus and massive spending.
We are getting a downgrade soon no matter what the debt ceiling decision, because obama’s economy is precarious,unstable and under assault.
Saying the market is 14,000 is like saying 4,600 points “saved or created”

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sparkyrules
Posted on February 1, 2013 at 11:33am
Dave Ramsey says its the way.Good steady growth mutual funds.I think he’s full of BS.
I’ll sit on my few gold coins as a good steady hedge.Against the false stock market.

Somebody tell me when to dump my measly 401k,now or later?What say you?

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- Ghandi was a Republican
  Posted on February 1, 2013 at 11:55am
  I’ve been shorting. But then some new BS starts driving the carnival to the next ghetto stop (where money is infused). When it re-tanks and you pay off a short, you cannot get back in because of dood/fwank. You can only “buy”..
  It’s ridiculous, disruptive and designed to take the backstop out of the market, or some other poorly thought out alinsky “chaotic crisis” inducement.
  Who knows what these ‘central planners (ie. Alinsky radicals)’ are actually thinking. They have less than half a left brain. All they care is they get their hands in their with a monkey wrench so they can flail it around. Gold/silver. Only way to go really. Even if you shorted the market and it crashed, your dollar will be about worthless, so quadrupling it isn’t much of a payoff.
  Suppose the dollar tanks (when it does), no amount of dollars will be able to buy an ounce of Gold. Ergo, Gold may as well be call $1 Billion/ounce. As would be a bushel of wheat. But- Gold.silver would by many bushels of wheat making you a rich man, and very popular with your starving friends and neighbors. Marauding thugs from the city too. This leads to the next investment you cannot be without. Lots of bullets..
  
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- SimpleTruths
  Posted on February 1, 2013 at 12:46pm
  Keep listening to Glenn or whoever else is giving you your investment advice if you want. My 401K gained 14% in 2012 and I have made nearly $12,000 in gains on $50,000 investment in stocks (mostly tech) which equates to a return of close to 25%. Looks like real money to me, not those shiny objects you hold so dear and can’t spend on anything.
  
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- UNALIEN
  Posted on February 1, 2013 at 1:53pm
  SIMPLETRUTHS
  
  better sell and convert to real assets before inflation eats it all up….
  
  Gold Rush in Japan, as Yen intentionally weakened, The US is trying to weaken the dollar, gold will go much higher or realistically the US dollar will go much lower in gold terms
  
  http://english.cntv.cn/program/bizasia/20130131/102351.shtml
  
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- cbrown
  Posted on February 1, 2013 at 2:03pm
  Stock market is a forward looking indicator. We had a great jobs report today, housing market is doing well, we have finally turned the corner. Expect see stronger jib growth and GDP in a couple of quarters.
  
  President Obama is one lucky son of a gun!
  
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- UNALIEN
  Posted on February 1, 2013 at 2:19pm
  CBROWN
  
  wrong, and naive
  
  GDP is dropping
  unemployment rising
  The Fed is inducing inflation which pushes up stocks nominally not in real terms…
  Cash is being devalued
  Interest rates are being suppressed to force savers to take risks.. or lose to inflation
  Wealth is being transferred from savers/producers to debtors…
  
  Kyle Bass Tells ‘Nominal’ Stock Market Cheerleaders: Remember Zimbabwe
  http://video.cnbc.com/gallery/?play=1&video=3000145346
  
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- cbrown
  Posted on February 1, 2013 at 2:50pm
  @UNALIEN
  
  You seem knowledgeable to me, so let me know your prediction for 2013. How many total jobs will be created for 2013, what will be Q4 GDP?
  
  My prediction is 2 million jobs in 2013 and Q4 GDP 3+%. Which I presume seems naive and ridiculous to you.
  
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- UNALIEN
  Posted on February 1, 2013 at 3:26pm
  CBROWN
  
  How do you measure jobs,,, well it depends
  
  You need 120-150 k per month to break even based on population growth
  
  So, 2 millions gross jobs would be barely above break-even, you need net real job growth correcting for the labor participation rate drop..
  
  We have seen the drop in the labor participation rate cleverly used as a proxy for job growth, that is intentionally misleading and propaganda designed to give a false reality to the economically illiterate.
  
  The economy is trending sideways at best, completely supported by Fed “printing”, if the Fed stops , we go into a massive collapse. So, IMO they keep printing, stocks rise due to inflation then stocks stop rising and inflation explodes, This is what happened in Weimar Germany, initially all assets rise before the collapse. Stocks are a partial inflation hedge, but not all stocks.
  
  The DOW in 2007 was 14000, gold was 700
  The DOW today 14000 gold is 1670
  
  The DOW has lost 60% in gold terms…
  
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- cbrown
  Posted on February 1, 2013 at 5:01pm
  @UNALIEN
  
  We can pick convenient data points and prove anything we want. This is silly game some folks who want to pawn gold coins do it.
  
  In reality, economy is slowly getting out of its slumber. In Q3 we had a GDP growth of 3.1% but it was -01% for Q4. The 4th qtr is an aberration b/c the trend in all other indicators shows growth and not contraction. We will have at least 2% growth in the next 2 quarters and 3+% in 4th qtr.
  
  The stock market is up b/c companies are beating street estimates not based on fed printing money. Companies have been able to maintain higher profits b/c of higher productivity (doing more with less folks).
  
  During Obama’s next 4 years we will create about 10+ million jobs, GDP will be up 4+%, deficit will be down to almost zero, folks on fond stamp will decrease by 30+%, Stock mkt will up by 15+%, … a stellar record for most President.
  
  Well that is my predication and I’m willing to to bet on it.
  
  Report this comment
- UNALIEN
  Posted on February 1, 2013 at 5:57pm
  CBROWN
  
  GDP for 2012 was 1.5%, the official debt will be 22-24 trillion when Obama finishes his second term. 8.5 million have left the workforce since Obama took office. There are people who politicize these economic data points and there are those who understand them for what they really represent, IMO this is beyond political, it is systemic. A financial ponzi scheme propped up by debt expansion, a intentional distortion of the market signals designed to keep the “confidence” game going. It is really similar to Madoff except that with Madoff you weren’t legally required to participate.
  
  You can believe what you like but IMO Obamas policies are hastening the destruction of the economy, hindering job growth and is enabling the FEDs policy of financial repression and money printing. You are 100% wrong, the fundamentals are not there, it is the Feds monetary expansion. That monetary expansion shows up in data like GDP, stocks and asset prices, we are on path of hyperinflation and a bond collapse.. there will come a point where there is nobody left with enough money to rollover the ever expanding US debt… not even the Fed who is buying 80-90% of new debt,, this is a ponzi scheme. it will end very ugly
  
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- cbrown
  Posted on February 1, 2013 at 6:47pm
  @UNALIEN
  
  Really appreciate your response. You have your predictions and backed it up with your reasoning. I disagree with them but commend you for sticking your neck out on this. By this time next year we will know who is right.
  
  I believe the United States output performance is, in fact, among the best compared to other developed countries. It is anemic at 2+% but all signs point to higher growth. Corporate profits are at its best, housing has recovered and is moving up at a steady pace, almost 500k new jobs in past 3 months, natural gas boom, manufacturing is outperforming the ROW, …
  
  Sorry, it is not a ponzi scheme and you will see actual results in a couple of quarters.
  
  Report this comment
- UNALIEN
  Posted on February 1, 2013 at 8:06pm
  The US performance is an illusion subsidized by its ability to print money and export the negative inflationary effects via its global reserve position. This position is weakening as the world is growing uncomfortable with the US massive debt expansion, so much so that the Fed must buy its own debt at 80-90%, this is unsustainable. When the artificially suppressed interest rates inevitably rise the US debt explodes to levels which will consume all productive capacity. The ROW will not support the US exportation of inflation and the US dollars get dumped back into the US, that will trigger a dollar collapse and hyperinflation. The key is that this is a catch 22, debt expansion is both propping up the financial system and making it more fragile to a point that is unsustainable. There is only one option, a debt default, there are two types a slow controlled dollar devaluation or a quick uncontrolled collapse.
  
  US debt will never be paid, it must be defaulted.. the Fed has chosen inflation aka devaluation of currency.. theft from producers/savers, The economy will never grow or thrive in real terms under the current debt expansion.
  
  Report this comment
VanceUppercut
Posted on February 1, 2013 at 11:24am
Wait, but I thought Obama had ruined the economy in some convoluted ploy to either let China take over, let the unions take over, or let the Muslims take over? But the Dow and the S&P are actually at their highest points in years. But Obama is a dictator who is ruining America, right? I’m so confused.

p.s. Funny how many “patriots” are hoping for the economy to collapse so they can say “I told you so”.

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- UNALIEN
  Posted on February 1, 2013 at 11:37am
  Most economic illiterates fail to understand nominal DOW and “real” DOW.. aka inflation adjusted….
  
  The DOW is below where it was in 1999 when adjusted for inflation using bogus Gov inflation data, it is well below that in real inflation adjustments…
  
  If the dollar is being devalued by massive “printing” due to massive debt expansion the DOW rises in nominal terms but actually falls in real terms…
  
  Report this comment
- Ghandi was a Republican
  Posted on February 1, 2013 at 11:43am
  Tool… It’s OUR money you moron. Repeating obama-alinsky/axelhole daily memos is really weak.
  
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- Fubared
  Posted on February 1, 2013 at 3:32pm
  LanceUpperButt
  No sane person wants to see the market tank. Idiot. While we do enjoy better days in the “market” when 0 is chasing lil white balls around, nobody wants what is coming. Math again. Weeee, we massage a 169k jobs add last month and 150k left the job force via attrition. Massage on, fluff some more. The IRS is booming. Glad we don’t have to pay for those creators. DC is booming, and they produce nothing but words. Shovel ready dolt. The buck is at a 14 month low against the Euro. Swell times coming. Gas going over 4.00 a gallon again. Sure, massive corporate and executive know how in all levels of gubmint.
  
  Report this comment
kadster01
Posted on February 1, 2013 at 11:22am
Wall Street is bipolar. I’ve come to ignore how much money people are spending at that casino. You could probably make a little profit with the “cold shower” investment strategy – quick in, quick out – but I do not trust putting my money there long term. What goes up, must come down, and it’s only a matter of time before it comes down HARD.

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- MittensKittens
  Posted on February 1, 2013 at 11:27am
  easy come easy go!
  
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- Anonymous T. Irrelevant
  Posted on February 1, 2013 at 11:28am
  It’s nothing, but a crap-shoot, run on fear and optimism, and nothing else. I’ll take what little money I might make on the surge, but I won’t count on it being there for long.
  
  Report this comment
AUsername
Posted on February 1, 2013 at 11:21am
Standard of Living is plummeting fast to where its really a depression.

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RaydocX
Posted on February 1, 2013 at 11:16am
i heard left of center commentators whining that we aren’t giving the president credit for the market.
i don’t know what he’s ‘done’ to get the credit, and don’t believe this is a real represenation of the economy, but a desperate ‘business as usual’ mentality as the financial state of the country as a whole edges toward ruin.

If the market value goes up $100 but hyperinflation leaves that money worth $10 or $50 of the value right now, it’s not really winning the investors anything until the dust settles and the surviving companies and re-established market are allowed to move forward.

or to put it better… if we weren’t over-regulating everyone and ignoring the few bad apples (you know, the banks and car companies that squandered Billions of our tax dollars without any real penalty) and if the country’s leaders were taking steps to rein in the debt just imagine how strong a rebound might have been.

so sure, O gets credit for a market progressing despite a contracting economy and crippling Federal debt… for which he’s also responsible.

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SamIamTwo
Posted on February 1, 2013 at 11:09am
So when is Team O gonna rob the private sector retirement accounts? Pretty soon, no doubt.

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Gonzo
Posted on February 1, 2013 at 11:04am
My 401K is back to where it was 4 years ago but my dollar is worth way less. Yay! Happy days are here again!

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jcldwl
Posted on February 1, 2013 at 11:03am
The bubble is about to burst.

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omega309
Posted on February 1, 2013 at 10:58am
Who will be the first to admit that the emperor has no clothes

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- Fubared
  Posted on February 1, 2013 at 11:15am
  Frickin nekkid.
  
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- YOURSENSEI
  Posted on February 1, 2013 at 10:22pm
  This is what you must know:
  
  Capital gains is a real tax dream. Sure beats hammering your head against a wall for a skimpy wage. Putting up with some idiot boss. Not getting the credit or pay you deserve. Its’ called investing. You folks should try it sometime. It’s easy. It’s fun. It’s highly profitable if you’re careful and have a fully functioning brain . . . oops . . . never mind.
  
  it is so.
  
  Report this comment
Cavallo
Posted on February 1, 2013 at 10:56am
As long as the Fed keeps printing money the equity markets will act contrary to the economic realities. High unemployment, anemic economic activity, high taxes, high regulations.

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willingtoupe
Posted on February 1, 2013 at 10:55am
Step right up and get your free phones!!! Because Obama does care!!

:-D

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omega309
Posted on February 1, 2013 at 10:53am
Fantasy

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cessna152
Posted on February 1, 2013 at 10:52am
…then remember what happened shortly thereafter? Get ready for the bottom to drop after a few more shots of “quantitative easing”…

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