The Dow Jones industrial average closed above 14, on Friday for the first time in more than five years, raising hopes for some investors and causing others to worry about an overheated market. The New York Exchange before the closing bell on Friday.

What Dow 20, means for stock-market investors - MarketWatch

The Dow Jones closed at 14, The Dow had been rising steadily for about a month. With auto sales strong and optimism about the jobs market high, the index was only points away from its highest nominal close.

Bank Wealth Management in Minneapolis. The Dow ended Friday Toyota, Ford, General Motors and Chrysler all reported double-digit gains for January.

The government jobs report that was released Friday was mixed, but traders seemed to focus on the positive. The Labor Department said , jobs were added in January, which was in line with expectations.

Unemployment inched up to 7. The jobs number is based on a survey of employers, and the unemployment rate is based on a separate survey of households, which is why they can diverge. Market watchers were divided over what the potential for a new high really meant for the Dow.

To some, it was a reason for optimism. Those investors had been shying away from stocks.

Dow Closes Above 14, for First Time Since - fadukuvo.web.fc2.com

Since April , investors have pulled more cash out of stock mutual funds than they have put in, according to the Investment Company Institute, a trade association.

In the last three weeks, though, that trend has reversed, which could make January the first month in nearly two years when stock-focused funds had more money flowing in than flowing out.

Closing milestones of the Dow Jones Industrial Average - Wikipedia

To others, 14, was nothing but a number, and not even the best number on the board. Professional investors usually pay more heed to the S.

Joe Gordon, managing partner at Gordon Asset Management in Durham, N. The fact that small investors are piling back in, he said, is a sign that the market has attracted too much optimism and is headed for a fall.

After the Dow hit its high in , it fell almost steadily for the next year and a half, losing more than half its value before starting to tick back up. Before Friday, the Dow had closed above 14, just nine times. The first time was in July ; the rest were in October of that year.

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Dow hits 14, for 1st time since October

Global DealBook Markets Economy Energy Media Technology Personal Tech Small Business Your Money. A version of this article appeared in print on February 2, , on page B 7 of the New York edition with the headline: Dow Tops 14, for the First Time Since Get Free E-mail Alerts on These Topics Stocks and Bonds Labor and Jobs United States Economy. Sweep to a Win Over the Heat.