Wall Street is aflutter. Only earlier this week did the Dow Jones Industrial Average post its second-highest close ever, and as of the morning of September 28, the Dow is trading above its all-time high.
Midday flirtations do not a close make, but every pundit, columnist and analyst is eager to weigh in on where this will all go. Will this growth be sustained? Will we see a run of selling in the long-term as investors try to capitalize on their profits? What does this say politically about an administration long accused of running a nation into economic troubles?
It is likely but not certain that this glimpse of the prize will cause a rally and lead to a record close by the end of the day. While ultimately numbers and records are just statistics, they are also fun, and provide a positive psychological effect on the marketplace.