March 5th, 2013
08:56 PM ET

Dow surges to record high amid sluggish economy

Talk of economic doom and gloom may still be a hot topic on Capitol Hill, but it doesn't look like Wall Street is listening. Today the Dow Jones Industrial average rallied to a new record high, climbing more than 125 points. A great day for the trading classes, but what about the masses?

"Because the stock market is soaring - and I want to emphasize this again - that doesn't mean that unemployment rates are going down. It means that corporate profits are going up, but they are not hiring people," Rep. Nita Lowey (D-NY) said.

OutFront tonight: Daniel Altman, economics professor at NYU and Doug Holtz-Eakin, a former Director of the Congressional Budget Office.

Filed under: Economy • Markets • News
soundoff (One Response)
  1. Robert

    If this is Obama "socialism" bring it on. I can take more of this watching my wealth grow from equities and RE. Am I better off now than under former president Bush. You bet. Guess what I am a conservative patriot and vet. Also former registered Republican. Obviously that job creation talk was just a ploy. Profits are higher than ever!!

    March 6, 2013 at 2:52 pm | Reply

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