Dow smashes record high – Mar. 5th
Binary Options News
Tuesday was a big day for the U.S. indices as the DOW punched through its previous all time high set back in October of 2007. Currently up 137 points to 14,265, the DOW is trading steady and has held onto the gains for the better part of the trading session. The Nasdaq is up over a percentage point or 42 points to 3,223 with the S&P picking up 15 points bringing the index to the 1,540 level. All in all, it’s been a healthy push into higher and record breaking high territory.
Taking a quick look now at the commodity sector, gold futures are up about $4 an ounce to $1,576 for April delivery on the COMEX. Oil futures have also managed a green trading session up 78 cents at the moment to $90.89 per barrel for April delivery.
Let’s take a look now at what’s moving with some volume behind it today. On the NYSE, taking the top spot as usual are shares Bank of America (BAC) with over 117 million shares traded for the session or roughly $1.4 billion. In the second spot, MGIC Investment Corp. (MTG) has 51 million shares traded with J.C. Penney Co. (JCP) taking the third spot with over 45 million shares traded on heavy selling pressure on talks that the board may be pushing for a sale. On the Nasdaq, Sirius XM Radio (SIRI) takes the top spot with 54 million shares traded with Vodafone and Microsoft taking second and third place.
As usual when a new record is made, there are analysts questioning the market direction with many calling for a pull back and arguing that now is the time to take profits. It’s all a game. The market moves up and people try to strike fear into investors. The market moves down, analysts are quick to say it’s the ‘buying opportunity of the century’. Keep this in mind as you get into positions and keep an eye on the news! Happy trading.