Dow’s Closes To A Yearly High

The Los Angeles Times reports that with a 203 point upward rally, Dow closed at a yearly high. Unlike in the past, when rallies in smaller stocks pushed the Dow up, this time, it was the turn of the heavy weights. These include American Express Company (NYSE: AXP) , Caterpillar Inc. (NYSE: CAT) and United Technologies Corporation (NYSE: UTX).

Dow is not the only one that reported a rally. Globally, stocks were up. This “stimulus” came from the announcement by finance ministers and central bankers of G 20 saying that stimulus will continue. The central bankers also pledged to keep interest rates low. However, the dollar tumbled. This could be bonus for the bigger corporations, as exports become cheaper.