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Dow Jones Industrial Average
Dow is up: Happy days here again?
Dow is up: Happy days here again?

Economist John Kenneth Galbraith once observed that there are two kinds of market forecasters, those who don't know and those who don't know they don't know. That is well illustrated by the current disconnect between Wall Street and Main Street, as the market's leading indicator, the Dow Jones Industrial Average, continues to surge forward while the overall outlook for the U.S. economy appears mixed at best. The Dow closed Tuesday at an all-time peak of 14,253.77, and many believe that the bullish trend will continue even if there is some profit-taking in the short term. Price-earnings ratios are not at levels more typical of market peaks quite yet, and the Dow still...