In what appears to be a slow yet successful improvement to the financial market, the Dow industrials had risen eight straight weeks by last Friday. This represents the longest streak of rises in the stock market in six years. However, some experts say the good financial news may not last forever.
Stocks Compete for Longest Streak
The stock market has been making straight increases across the board for a number of weeks. The Dow has risen for eight weeks straight, which is the longest run for it since Jan. 2004. But it’s not alone; the Nasdaq has also risen for eight weeks straight. The S&P isn’t far behind, having risen for seven of the last eight weeks, leaving it and the Dow at the highest levels since Sept. 2008.
After seeing what looked like a slight struggle in the market, stocks have rallied with significant gains over the past several weeks. It seems the financial markets may be improving some, but will the streak last?
Is the Streak Coming to an End?
Some experts are saying that though the stock market has improved, a slew of quarterly reports could make it tough for there to be another week to add to the streak. Donald Selkin, chief market strategist at National Securities, said recently “the path of least resistance seems to be up and there seems to be good buying on any dips, but I also think we’re getting to the point where we’ve overdone it.
Good economic and housing market news has contributed to the increases; however, the questions about Wall Street reform have left some investors wondering what steps to take next. After reports on jobless claims, consumer confidence and GDP flow in, experts should have a better idea of how the stock market will move.
