Sunday, February 19, 2012

Dow Jones Industrial Average Could Reach 13,000 Mark

As the new week opens, many are optimistic that the Dow Jones Industrial Average will hit the 13,000 resistance index - a milestone that last occurred before the global economic crisis back in May 2008.

One of the world's most-watched index climbed 45.79 point to 12,949.87 last Friday, gaining a total of 1.2% last week. Nevertheless, the market had mixed signals in trading, which remained cautious leading to the three-day Presidents Day weekend.

But consumers spending higher than expected in Presidents Day sales this week, many retailers are thinking that the financial crisis is slowly coming to a full end and the economy is back on its feet.

For the past four months, the Dow Jones Industrial Average rose by almost 2,400 points. This happened amidst the European debt crisis, which has certainly surprised many investors and analysts. Many are relieved that the predicted and feared double-dip recession did not happen.

On Tuesday, Wall Street will have another try at going beyond 13,000. Likewise, the NASDAQ will hope to close higher than 3,000 and the S&P 500 at 1,400.