SPRINGFIELD, Mass. (WWLP) - It was another record-setting day on Wall Street Tuesday.
The Dow Jones Industrial Average gained 87.31 to close at 15,056, the index's first-ever close above 15,000. Investors also pushed the Standard & Poor 500 index to a new high as well. The S & P gained 8.46 to close at 1625.96.
Raymond James Associates financial adviser Mark Teed told 22News that cautious investors are finally jumping into the market, not wanting to be left out.
"For four years, we've gone straight up without a bear market correction. We've gone the last 88 days straight without a pullback at all of three days or more. That hasn't happened since 1958. We are in a buying panic. This is unprecedented," Teed said.
Teed told 22News the improving real estate and unemployment numbers continue to feed this rally. He said he does expect a market correction, but no one knows when it will happen or how severe it might be.