The Dow is at 10,000. Big deal, right? After all, it is just a number, but there has been a lot of emphasis placed on this milestone recently. Why is the media obsessed over this number? It has been over a year since we’ve seen the market at these levels, so whether it is an indication of good things to come or not, it’s welcome relief.
But why all of the hype and predictions? Is it just something for people on TV and the newspapers to talk about? Besides, the Dow isn’t even a very good representation of the market as it consists of only 30 companies. Most investors follow (or should) the S&P 500 for a better gauge of what’s going on in the market. Where was the fanfare when the S&P cracked 1,000 again?
Regardless of the Dow milestone I think we can all agree that it’s nice to see our investment account statements going up instead of down. That being said, we still have a ways to go. We’re still down around 40% from the highs in 2007 so we haven’t come completely back around yet, but it’s a good start.
So, what do you think about this milestone? Does it mean anything, even if it’s just at a psychological level? Do the markets continue to improve or are we just delaying the inevitable and we’re headed back to test the recent lows once again?
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About the Author: Jeremy Vohwinkle is a Chartered Retirement Planning Counselor® and spent a few years working as a financial planner. Today, he helps people make the most of their money by writing about personal finance here and elsewhere on the web. Jeremy is also Coach at Adaptu and a regular contributor for other publications such as Intuit, and American Express. Be sure to follow Jeremy on Twitter or Google+.