Dow Jones Industrial average hits another record high; analysts see growing economy
POSTED: Wednesday, March 6, 2013 - 11:30pm
UPDATED: Wednesday, March 6, 2013 - 11:34pm
NBC NATIONAL NEWS — The Dow Jones Industrial Average reached a new high Wednesday, and more analysts are lining up behind the theory that this will be happening a lot over the coming months.
It closed up only 42 points, but it's still a new record high for the Dow.
"I think we still have more tailwinds than we have headwinds and think there is more room to go here," says Arthur Hogan of Lazard Capital Markets.
Bolstering his opinion is the fact that U.S. Factories ordered more machinery and other goods in January, sending a signal of confidence in the economy, and a private report that shows companies did more hiring than was estimated for February.
That bodes well for the government's unemployment report that comes out Friday, and for those who predict even better times ahead.
"We think this is a bull market that's not only sort of four years old, but will continue for another three or four years," predicts Thomas Lee, chief U.S. equity strategist for JPMorgan.
Others say a dip in the stock market is inevitable and overdue, but when and for how long remains debatable.