Oh that big bad Socialist Obama... ;))
Dow, S&P close at 5-year highs
The Dow and S&P 500 gained to finish at five-year highs in choppy trading Tuesday, ahead of President Barack Obama's State of the Union address later this evening.
With the Dow's move higher, the blue-chip average is now less than 1 percent from its all-time record close of 14,164.53 hit on October 9, 2007.
The Dow is up more than 7 percent so far in 2013.
The Dow Jones Industrial Average closed above the psychologically-important 14,000 level, led by Bank of America.
The S&P 500 also finished higher, while the Nasdaq ended in the red. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, dipped below 13.
Among key S&P sectors, financials climbed to a fresh four-year high, while techs held small losses. S&P financial stocks at new multi-year highs include T.Rowe Price, American Express and AIG.
Meanwhile, the Russell 2000 index and the S&P MidCap 400 index both hit an all-time high.
"While it may seem like the market's rallied too far too fast, we continue to think that the major averages will follow the small and mid-cap leadership to make all-time highs this year," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research. "The risk-on trade is there."
http://www.nbcnews.com/business/dow-sp-close-5-year-highs-1C8340260
| 
