3 years ago
CalDoofkinJr
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Stocks continue to climb
"Stocks on Wall Street advanced steadily through the day Friday after the Dow Jones industrial average closed above 16,000 points for the first time, amid a dearth of new data and ahead of a holiday-shortened week in the United States. In afternoon trading the Standard & Poor’s 500-share index was up 0.3 percent, and the Dow Jones industrial average gained 0.1 percent, at 16,032.77 points. The Nasdaq composite was 0.5 percent higher. The Dow’s record close came Thursday as data on inflation and the labor market soothed fears the Federal Reserve could be ready to start winding down a stimulus program that has lifted the benchmark S.&P. 500 almost 26 percent this year. Even after the Fed starts winding down its stimulus, monetary policy is likely to be very accommodative for some time, likely for years, Dennis P. Lockhart, president of the Federal Reserve Bank of Atlanta, said on CNBC." That "very accommodative" kind of scares me
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