I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!


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This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

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Friday 4 July 2014

Dow closes above 17,000 for first time



























NEW YORK: Wall Street stocks on Thursday closed at new records, with the Dow crossing 17,000 after surprisingly robust US jobs growth pointed to a stronger economy.

The Dow Jones Industrial Average shot up 92.02 points (0.54 per cent) to 17,068.26, while the S&P 500 gained 10.82 points (0.55 per cent) to 1,985.44. Both indices closed at records highs for the third straight session.

The tech-rich Nasdaq Composite Index advanced 28.19 points (0.63 per cent) to 4,485.93

The Labour Department said the US economy added a healthy 288,000 jobs in June, while the unemployment rate fell to 6.1 per cent from 6.3 per cent in May.

The solid jobs data drove stocks higher in a holiday-shortened session that closed three hours early. Stocks markets are closed on Friday for Independence Day.

"The market is applauding the strong jobs number and the signs that it shows economic growth is in fact returning as we expected after there was a weather-related slowdown in the first quarter," said David Levy, portfolio manager at Kenjol Capital Management.

Still, Levy said, whether the market continues to rise will depend on upcoming second-quarter corporate earnings reports and whether investors believe the Federal Reserve is likely to move up its timetable for raising interest rates.

In other economic news, the European Central Bank, as expected, held its benchmark interest rates unchanged. The Commerce Department reported that the US trade deficit fell to US$44.4 billion in May, a bigger decline than analysts expected.

The Institute for Supply Management's non-manufacturing purchasing managers index dipped to 56.0 in June from a strong advance to 56.3 in May. The services sector reading came in lower than the 56.5 analyst forecast, but remained well above 50, which indicates growth.

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