A Little Good News for Investors

The Dow Jones industrial average has climbed above 10,000 for the first time in a year. The Dow crossed this symbolic threshold in afternoon trading Wednesday. It has been seven months since it hit a 12-year low of 6,547.05 on March 9.

To paraphrase, with apologies, Winston Churchill this is not the end of the recession or even the beginning of the end, but it is perhaps the end of the beginning. The New York Stock Exchange rocked with cheering traders as stocks briefly moved above the psychological barrier. The Dow at times fell back below 10,000.

It is easy to put too much significance on a particular number but with the economy stumbling and falling like a drunk over the past year who can blame us for liking a little good news. Now all we need is jobs.