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Call The Close: Party Like It’s One More Than 1999

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It’s record setting time down on Wall Street, with the S&P500 crossing the 2000 mark at about 10:40 this morning and hitting an all-time high of 2001.94 about a half-hour later, before doing what major stock indices always do when broaching new ground and taking a few steps back, safely below the big, scary number. Is everyone brave/frisky/crazy enough to get it back over the hump?

The final push above the 2000 mark comes even as some investors feel the bull market is facing a much tougher slog than last year, when the S&P 500 jumped 30%. Even though the economy is seen on a fairly stable growth path, and interest rates are expected to remain low, investors are nervous about the potential impact of the Federal Reserve raising interest rates next year, as well as higher-than-average valuations that have made bargains much harder to find.

S&P 500 Rises Above 2000 for the First Time in Intraday Trade [WSJ]
S&P 500 tops 2,000; analysts see more gains ahead [Reuters]


Florida Memory [No restrictions], via Wikimedia Commons

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Call The Close: Well This Is Fun, Isn’t It?

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(marolse3 via eBay.)

UPDATE: Call The Close: Nice Round Number Edition