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Dow Hits 2008 Highs

Dow Hits 2008 Highs

Wednesday, Feb, 14, 2018 05:39PM

Students who are in school earning an online degree in finance or a business administration degree may encounter a healthier economy upon graduation, as the Dow Jones Industrial Average and other stocks have been posting gains, and other measures continue to show signs of improvement. On February 28, the Dow closed above 13,000 for the first time since May 2008, exhibiting growing consumer confidence.

“I don’t have rose-colored glasses on, but I think the path of least resistance is up,” Richard Weeks, the managing director and partner at HighTower’s VWG Wealth Management in Virginia - which oversees more than $20 billion - told Bloomberg. “The news is generally good. Short-term, all signs say that risks have been reduced.”

The Standard & Poor's 500 Index also posted a gain of 0.3 percent to 1,372.24, which puts it on pace to post a third month of gains, the longest streak in a year, according to the news source.

However, the housing market continues to be a burden on the economy's recovery, as home prices in 20 U.S. cities dropped more than expected in December. Mortgage lending is experiencing low interest rates, but tighter restrictions mean lenders are approving fewer loans.

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