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The Dow Jones closes at a record high but what does it mean for you?

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Posted at 9:45 PM, Oct 18, 2017
and last updated 2017-10-19 00:45:05-04

History on Wall Street as the Dow Jones closed at a record high for the first time Wednesday. 

Investors celebrated after the American Multinational Technology Company, IBM brought the dow to a record high of 23,157.

 

 

On August 2, 2017 the Dow closed at 22,000 and has been on a steady pace since then. 

Managing advisor with Anderson Financial Group, Todd Anderson explains that the dow doesn't effect the economy like many people believe it does. 

"The Dow doesn't represent the economy the Dow Jones represents what some people think 30 companies are worth," says Anderson. 

Anderson adds, "Overall Investors think that these 30 companies are worth more today than they were yesterday because today happened to be the day that a lot of companies pretty much said here are where our profits for this year -- some came pretty good."

Many people ask how they can make some money since the stock market is up. Anderson says, if you wanted to make a lot of money you should have gotten in last year because the Dow has already grown.

October 19 marks the 30th anniversary of the stock markets all time low referred to as "Black Monday" 

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