Stock market hits record highs, local adviser says "total opposite" from late 2000's
The Dow Jones Industrial Average closed at a record-high 24,272.35 on Thursday, the first time it's ever reached over 24,000.
As the bell rang to open up the New York Stock Exchange Friday, those who play the market were reminded just how much they're liking what they're seeing.
"It's an interesting time with the stock market being at record levels," said Matthew Garret, a financial consultant at Hilliard Lyons in Bowling Green. "It's been an exciting time, and for those who have participated, they've seen their account values grow as well."
The Dow Jones Industrial Average is based on the success of individual companies within that index. The same goes for NASDAQ and the S&P 500, which have all been trending upward.
"A lot of people in our industry like to look at the S&P 500 and use that as a benchmark a lot of times," he explained, "but I think that the Dow is the most familiar and that's the one they hear about the most."
Matthew Garrett also told 13 News that the success of the market can be linked to a few different things.
"With the way the market is now, we have companies who are at record profits, or are in a low inflation environment, or are in a low interest rate environment," he began. "Unemployment is at record low levels, so that helps the market."
Garrett has been the finance field since the late 2000's when the market was trending dramatically downward, the opposite of what he's seen of late.
"When I first got in," he said, "the Dow was at record lows, and now we're at record highs, so we've seen a drastic change since I started in the industry. We've had some fluctuation in that time frame, but the levels we're at today, we have not seen before."
The DJIA closed Friday just below where it did Thursday, but still above 24,000.
As a financial consultant, Matthew Garret said his goal is to use the stock market to help clients plan out the risks they're willing to take, in order to reach their goals in the exchange.