CHICAGO (CBS) — Stocks climbed to record levels Friday, adding to already solid weekly gains. The S&P 500 gained 4, the NASDAQ added 19 and the Dow Jones industrial average closed up nearly 65 points, settling to 22,268.
“The takeaway continues to be the impressive nature of the major indices, especially the Dow and its’ resiliency. I think a lot of people out there continue to scratch their heads at what the Dow is doing in the face of another missile launch, the political environment and the litany of reasons why the market shouldn’t go up. The market doesn’t care and keeps chugging higher,” said Chuck Carlson, CEO of Horizon Investment Services.
He also noted that the three main engines of stock market performance are inflation, interest rates and corporate profits.