Dow, S&P 500 Nearing All-Time High


stocks-stock-marketStocks were mostly higher this afternoon, as better-than-expected housing numbers helped offset weakening consumer confidence.

Home prices posted their biggest jump in 6 years, but the Conference Board’s monthly Consumer Confidence Index came in far below forecasts.

The mixed economic reports gave investors reason to take a small breather from the recent rally that’s pushed the Dow and S&P 500 near all-time highs.

The Dow Jones Industrial Average gained 0.5%, coming within spitting distance of 14,000, while the S&P 500 added 0.5% and the Nasdaq dipped 0.1%.

“Good numbers are priced in at this point, particularly in housing,” said Joe Saluzzi, co-head of Themis Trading. “Investors really want to see more.”

Read more at CNN MONEY

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  1. So why is unemployment so high? Why isn’t all this high-end wealth trickling down to create jobs? Unless, of course, the trickle-down theory doesn’t work.