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Stock Market Highs — Plus: Angelina Jolie's Cancer Decision
ResumeAll- time highs in the stock market lately. We ask why, and whether it says recovery or bubble. Plus: Angelina Jolie's decision to have a double mastectomy.
Last week, the Dow hit numbers we’ve never seen before. 15,000-plus. The S&P at all-time high stock market numbers, too.
So, what’s going on? Recovery? Bubble? Something else? Is it all about the Fed? Millions of Americans have nothing to do with the stock market these days. But millions do need to save, build a nest egg. So what’s going on on Wall Street?
This hour, On Point: dissecting the big run-up in stocks, and what it means.
Plus: we will look at superstar actress Angelina Jolie’s decision to have a double mastectomy at 37 to reduce her risk of breast cancer.
- Tom Ashbrook
Guests
Steven Russolillo, covers financial markets for the Wall Street Journal. (@russolillo)
Allen Sinai, chief global economist at Decision Economics.
Michael Pento, president of Pento Portfolio Strategies. Author of "The Coming Bond Market Collapse: How to Survive the Demise of the U.S. Debt Market." (@michaelpento)
Closing Segment on Angelina Jolie's Preventative Mastectomy
Dr. Judy Garber, director of the Center for Cancer Genetics and Prevention at the Dana Farber Cancer Institute. Professor of Medicine at Harvard Medical School.
Angelina Jolie's op-ed in the New York Times: My Medical Choice.
From Tom's Reading List
The Associated Press: Dow Has Its First Close Above 15,000 Points -- "Just two months after recovering the last of its losses from the financial crisis, the Dow Jones industrial average charged higher Tuesday, closing above 15,000 for the first time."
The Wall Street Journal: Economic Road Clearing, but the Going is Slow — "After four years of crises, foreign and domestic, that threatened to plunge the U.S. economy back into recession, the road ahead at last looks comparatively free of roadblocks. But progress remains slow, and there is little reason to expect meaningful acceleration in coming months."
The Washington Post: Why are hedge fund titans so upset about the stock market boom? — "We can argue all day long about whether quantitative easing policies from the world’s central banks are doing much to help the economy. But this much is for darn sure: It is boosting a wide range of financial markets."
This program aired on May 14, 2013.