It’s been an historic streak for the Dow Jones Industrial.
Local financial advisor Howie Pentony explains.
“The market seems to be particulary strong here. The Dow Jones Industrial average is up seven percent for the year, but it’s been up for 13 days in a row,” Pentony says.
Pentony says that stands out because the Dow hasn’t had 13 straight days of gain since 1987.
He also adds that the U.S. economy had a strong week overall, which is going against the grain of predictions that happened earlier this year.
“Everybody has been wrong. The economists have been wrong which is not unusual,” Pentony said. “Our economy in the United States has stayed nice and strong. I think that’s one of the reasons, when stocks go up it’s all about profitability. And stocks can’t be profitable unless the economy is strong.”
Howie Pentony is the founder of Pentony Capital Management in Portersville.
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