Stocks continue to run in record territory, and with just another little leg up, the three major indexes could surpass some big milestones.
The Dow Jones industrial average is closing in on 16,000, while the S&P 500 is inching toward 1,800, both of which would be reached for the first time. The tech-heavy Nasdaq is nearing 4,000, a level not seen since September 2000, just months before the collapse of the dotcom bubble. All three indexes are within 1% of the psychologically important mileposts.
Investors are likely still in a good mood Friday, a day after Federal Reserve chair nominee Janet Yellen told a Senate panel that she is determined to support the U.S. economic recovery, and believes the Fed’s bond-buying program still has the power to help.
The central bank’s $85-billion-per-month bond-buying program — also known as quantitative easing or ‘QE’ — has helped spur stocks by pumping markets with extra cash.
U.S. stock futures inched higher ahead of the open, after finishing a fresh record highs Thursday.