Hooray! Dow Hits 14,000, The Highest Since October 2007

February 1, 2013  |  

AP Photo/Richard Drew

The Dow Jones Industrial Average reached 14,000, great news for the market since the Dow hasn’t been this high since October 2007. According to The Huffington Post, the key drivers for the increase were the reports on U.S. jobs and auto sales.

Although the jobs report showed unemployment reached  7.9 percent, an increase from 7.8 percent in prior months, investors chose to focus on the positive: employers added 157,000 jobs in January and hiring was stronger over the past two years than previously thought.

However, with all these jobs being added, things don’t appear to be as upbeat for African Americans just yet. The National Journal reported that the unemployment rate for African Americans remains the highest at over 13.8 percent, although that is a .2 percent drop from last month. The unemployment rate for Hispanics is currently 9.7 percent, while Asians and whites have unemployment rates of 6.5 and seven percent respectively.

Generally the Dow can be a signal of investor confidence and even with an increasing unemployment rate the 14,000 high that the Dow reached today arguably proves that investor confidence is back.

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  • Bubble, anyone?

    No jobs are being created and houses still sit empty.

    Job creation is the only thing that will get us out of this jam. And it starts with executives being willing to hire people. No more of this doing more with less. Create jobs and pay people a decent wage.

  • Kenedy

    What jobs are these that are being added? Cause if its like McDonalds…that doesn’ t count….we want entry level positions for new grads! & decrease retirement age, its time baby boomers retire to create room for new grads!!!

  • bluekissess

    Congratulations! I guess

    • Applechappell

      Congratulations ??? U need to read some finance books or something. If u got any investments or 401k account that is very good news

      • bluekissess

        Last time I checked I thought congratulations was a good thing? What does me having to educate myself have to do with that?