Posted: Mar 5, 2013 7:05 PM by Angela Douglas - MTN News
Updated: Mar 6, 2013 7:42 AM
BILLINGS - The stock market is in brand new territory, with the Dow Jones Industrial Average soaring to an all-time high on Tuesday, closing at a new record of 14,253. That's 89 points higher than the previous record set in October of 2007, just before the start of the financial crisis.
Wall Street investors have poured billions into stocks over the past eight weeks, marking the longest inflow of money in nearly two years. We caught up with financial adviser Gary Buchanan with Buchanan Capital LLC Tuesday afternoon for some insight how the news may impact the economy.
"Typically and historically stock markets are a leading indicator and lead where the economy might be in six months," said Buchanan. "If that holds true, we could maybe look for a stronger economy, including jobs which is still a problem. Maybe it will catch up a little bit with the stock market."
The Dow hit its lowest point four years ago this month. But, both the Dow Jones and the S&P 500 have more than doubled since March of 2009.