Monday, November 18, 2013

Dow Hits Record High of 16000, S&P Breaks 1800

NEW YORK, New York -- Both the Dow Jones Industrial Average and the S&P 500 hit record highs today, indicating that investors still believe that the Federal Reserve will continue on its inflationary policy of monetizing both the growing U.S. debt and troubled mortgage-backed securities.

The Dow broke 16,000 after the morning open and the S&P 500 followed suit, breaking 1,800 for the first time.

Commodities did not experience a similar across-the-board price increase in U.S. dollars this morning and are mixed.  Gold and oil are down slightly while silver and sugar saw gains of over 1%. 

Currencies are also mixed. The Euro, Canadian Dollar, Swiss Franc, and Japanese Yen gained slightly against the U.S. Dollar while the British Pound and Australian Dollar experienced slight losses.