PLEDGE NOW
Behind The Dow’s High

With Jane Clayson in for Tom Ashbrook.

The Dow hit a record high. What’s behind the jump? And what’s the big picture economic message?

Trader Peter Tuchman smiles as he works on the floor of the New York Stock Exchange Tuesday, March 5, 2013. (AP)

Trader Peter Tuchman smiles as he works on the floor of the New York Stock Exchange Tuesday, March 5, 2013. (AP)

Yowza, yowza.  The headlines are big and splashy:  The Dow has roared back.  Twice this week, it’s topped old record highs going back to ‘oh-seven’ –in the days just before the Great Recession.

After all the dire sequester warnings, it’s a good omen, right?  Can we dare hope that if stock market investors are feeling good, something good is finally happening to our economy?

Are the jobs coming back?  Will our 401ks start growing like fatted calves?  Well, life isn’t simple and neither is the economy.

This hour, On Point:  We talk markets, the economy and hopes for the future.

Guests

Greg Zuckerman, senior writer for the Wall Street Journal. (@gzuckerman)

Trish Regan, anchor on Bloomberg Television and host of Bloomberg’s daily business program, “Street Smart.” (@trish_regan)

Matt Phillips, writes about finance, markets and economics for Quartz. (@matthewphillips)

From the Reading List

The Washington Post “The benchmark Dow Jones industrial average reached an all-time high Tuesday, underscoring the contrast between corporate America’s rapid recovery since the financial crisis and the rest of the country’s ongoing struggle to regain its footing.”

Time Magazine “The reality is probably much less exciting. ‘Investors should curb their enthusiasm,’ says Mitchell O. Goldberg, president of ClientFirst Strategy. Experts say the Dow’s record high means relatively little in the grand scheme of things. Here are a few reasons why:”

Chicago Tribune “Ric Edelman, a Fairfax, Virginia-based independent financial adviser, said one of his clients called this week and asked him to send $62,500 because he had decided to buy a Porsche. That client, Edelman said, was reluctant even to buy a used Corvette for $10,000 just a few months ago, but he had since realized that his portfolio gains mean he could afford to spring for the car he really wanted.”

Please follow our community rules when engaging in comment discussion on this site.
ONPOINT
TODAY
RECENT
SHOWS
Jun 9, 2016

Newly-minted college graduates on the job hunt. We’ll look at who’s hiring, starting salaries, and strategies for landing that first job.

 
Jun 9, 2016

Europe, India and China, are taking on American tech giants over privacy, monopolies, and more. We’ll look at the global technology pushback against the U.S.A.

On Point Blog
On Point Blog
Jessica Valenti: ‘Objectification Is About Dehumanizing People’
Wednesday, Jun 8, 2016

“There is some power in laying claim to the word victim.” — Jessica Valenti on the Stanford sexual assault case, and the importance of language.

More »
Comment
 
Why The ‘Roots’ Remake Matters (And What Stays The Same)
Tuesday, Jun 7, 2016

The recent remake of “Roots” on the History Channel makes important changes, Morehouse College’s Stephane Dunn argues. But it also holds true to the original story.

More »
Comment
 
Former Trump Advisor Roger Stone: ‘Trump’s Going To Be The Next President’
Monday, Jun 6, 2016

Longtime political consultant Roger Stone apologizes for his “two martini tweets,” even as he predicts Donald Trump will be the next U.S. president.

More »
Comment