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Local investor discusses if now is the right time to invest
For the 7th day in a row, the Dow Jones Industrial posted another record closing high and the S and P 500 closed within 1 percent of its 2007 peak.
The strong finishes come as recent economic reports have painted a better picture of the US economy.
But is now the right time to invest?
Analysts of course can't predict the future, but say if history were any indication on what's to come, things are looking pretty good.
"We expected to see the markets get higher at some point," said Jeff Anderson, Countryman Wealth Advisors.
And higher it did, the Dow has more than doubled from March of 2009 when the financial crisis and great recession sent it tumbling to 65–hundred.
"We're going to have ups and downs; you're going to see corrections and spurts of good growth that's just part of the nature of the investment market," said Anderson.
The news from Wall Street is right in line with a strengthening economy, but will this upward trend continue.
"We should go higher from here if you look back at the history of the United States the market has always trended up," said Anderson.
Experts say the uncertainly 3 or 4 years ago when the market crashed is now gone, with the questions of concerned answered.
"We don't know yet what our ceiling on debt is going to be or what kind of spending controls we're going to have but really that's the last of maybe 5 or 6 things that we had as unknowns several years ago," said Anderson.
And if you're thinking of investing in the stock market.
"As soon as the market went way down, everyone wanted to get out of the market, that was at a low that should have been at a buying point and now that the market is up again to where it once way with the Dow reaching another record we're beginning to see more of the general consumer interested in getting back into the market," said Anderson.
Later this week, the government will release figures for the federal budget in February, as well as reports on consumer prices and industrial production.
We'll see what, if any, affect those reports have.
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