Chris Cantell Discusses Financials: Dow Jones on its record high by Nina Gotzmannova

Whether you are an economist, investor, owner of a company or just simple Joe Doe with no interest in things such as stocks or shares, you can join the party Wall Street Throws. Just on Monday the fourth quarter begins and there is a new record. With index on 14,087.55 Dow Jones industrial average rises to record high.Index broke its former record from July this year. The Dow rose 1,38 percent to record close. Also the blue chip index rose as high as 14,115.51, breaking the record from July too. But there are more facts that indicate the market is back to its normal earning level, as it was before the slump in third quarter. One of them is that Nokia revealed an $ 8.1 billion offer to buy Navteq Corp., a company known for making navigation software. So it seems the companies are not afraid to make big decisions and the financial market is stabile for a while.Also Citigroup, the world largest company and the primary dealer in US Treasury securities, mostly considered a barometer for the banking industry, gave real numbers about its damage. So the predictions of the worst what can happen are already known and no one can expect anything worse. The future can brings only better things. Dow Jones industrial average is the oldest continuing U. S. market index, created in nineteenth century. It contains of 30 largest and most known public companies in the United States. When it starts, the index was 40.94. For the first time it has closed over 5,000 was in 1995, in 1997 it has reached the magical number 10,000.

related story: http://news.yahoo.com/s/ap/20071001/ap_on_bi_st_ma_re/wall_street;_ylt=ApmAGEboAYPDpJp__lc4Pk.s0NUE

by Nina Gotzmannova for PocketNews (http://pocketnews.tv)

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Posted by: Maria Vidlickova