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Local News

Wall Streets Wild Ride


The Stock Market has had a wild ride in recent days. The Dow was down by 166 points on Friday and then a strong comeback on Monday and Tuesday to push it over 12,000. Tyler Simones with Northwest Quadrant Wealth Management in Bend says while Dow 12,000 gets a lot of attention; it’s mostly a meaningless milestone: "Dow 12,000 is a psychological level. The Down Jones Industrial average is 30 stocks; it’s really an irrelevant average. Most professional investors don’t look at the Dow at all, but most retail investors, the average person on the street focuses on the Dow. But it’s not a really very good proxy of the U.S. economy, because it’s only 30 industrial stocks.” The more important number is the S & P 500, and the fact that it hit the 1300 mark. The market hit both benchmarks at the close yesterday.

 

 

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