Money Minute: Stocks Mark Financial-Crisis Milestone; IPOs Gather Steam

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Sunday marks the five-year anniversary of when the stock market bottomed out after the financial crisis.

The S&P 500 has nearly tripled since March 9, 2009, and the Dow has moved from 6,547 back then to close Thursday at 16,421 -- that's a gain of nearly 10,000 points.

Remember, the market plunge was caused by the financial crisis. So guess which sector has been among the best performers during the past five years? Yes, financials. Tech and consumer discretionary stocks have also been stellar performers.

The stock market boom is prompting start-up companies to go public at the fastest pace since the turn of the century. According to Dealogic, 42 companies had initial public offerings in the first two months of this year, more than doubling the pace of last year.

This extended bull market, with IPO fever running rampant, reminds some market watchers of the period just before the Internet bubble burst in 2000.
But there are plenty of others who say that's an unfair comparison, and that this bull still has plenty of room left to run.

The Dow Jones industrial average (^DJI) gained 61 points Thursday and the Standard & Poor's 500 index (^GPSC) added 3 -- notching its 50th record close in the past year -- but the Nasdaq composite (^IXIC) fell 6 points.

A lot of the focus today is on the monthly jobs report. It's interesting to note that a lot more people are picking up and moving to a new area of the country to take a new job -- something we saw very little of in recent years. The relocation numbers come from the outplacement firm Challenger, Gray & Christmas, which says this trend is a sign of a strengthening economy.

Finally, Safeway (SWY) has agreed to be acquired for $9 billion by the parent company of the Albertsons chain. But reports say the nation's leading supermarket chain, Kroger (KR), could still come in with a higher bid.

-Produced by Drew Trachtenberg.


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Mr. Arnold

this looser thinks we are in a stronger economy. the market fell because of massive mortage loan defaults, a problem that still exists with no end in sight. the inflationary aspects of the depression, yes we are in a depression, are obvious in food, fuel, and market investments. a look at the number of failing companies would scare most investors, like warren buffet, away. but with no hope for a return from savings or bonds those in need of revenue are willing to roll the dice.

March 07 2014 at 2:11 PM Report abuse +2 rate up rate down Reply
alfredschrader

And now Steve Irwin's family is joining the Sea World Killer Whale foras. What part of "killer" don't they get ? I love Sea World but some things are just plain wrong, like people getting near 6 ton killers. And now the Irwins are joining in. There is a group wise on animal safety - not.
For those not up on Steve Irwin, he was killed following deadly stingrays. Really, it's amazing he lived as long as he did. Big deadly fish belong in the sea. Throw them back, please.

March 07 2014 at 1:16 PM Report abuse rate up rate down Reply
ruleing

HI SUN IS SHINING HERE

March 07 2014 at 12:48 PM Report abuse rate up rate down Reply
quickdraw0222

I thought all teabaggers had lots of money and were heavily invested in the stock market.After all you voted for mittens.

March 07 2014 at 12:21 PM Report abuse rate up rate down Reply
1 reply to quickdraw0222's comment
teapotparty11

DONT KNOW NOTHING ABOUT ANY STOCK MARKETS BUT GUNS IS GOOD, ABORTIONS IS BAD AND LOW WAGES IS GOOD AND UNIONS IS BAD, OBAMA IS A DICTATOR!

PAUL/CRUZ 2016!!!

March 07 2014 at 1:19 PM Report abuse -3 rate up rate down Reply
alfredschrader

Also says on here Washington is punishing Russia for Crimea rejoining Russia. Why ?
They were originally together as the Soviet Union anyhow.
In many ways Russia and the Russian people are just like us. With China gobbling up everything especially jobs, we need to work together with Russia. If Putin thinks he needs to adjust Crimea we should support him. China would never let us fly our asronauts on their spacecraft but Russia has helped us. I'm no red but I know friends when I see them.

March 07 2014 at 11:45 AM Report abuse rate up rate down Reply
GP49

Lets see Staples is closing 250 store, Radio shack is closing about 1100 stores Dodge is laying off workers gas is going up heating oil is going up food is going up again so lets just say everything is wonderful an raise the stock market

March 07 2014 at 11:26 AM Report abuse +4 rate up rate down Reply
alfredschrader

Also on here it says wheat and corn prices are expected to rise because of the unrest in the Ukraine. To start with, there is no unrest in the Ukraine, they simply joining back with Russia only not as the previous Soviet Union (nastrovia). We are better today at growing wheat and corn than we have ever been. We're already up to 200 bushels to the acre and in a few years we expect 300 bushels. We are so good at producing wheat that bread is actually cheaper than water : A 16 ounce bottle of Zepherhills water is 99 cents and a 20 ounce loaf of white bread is also 99 cents (4 ounces more).

March 07 2014 at 10:55 AM Report abuse rate up rate down Reply
erink91321

But Not for long. Books are being Cooked even for the Government now. Complete Crash is expected before Summer

March 07 2014 at 9:31 AM Report abuse +1 rate up rate down Reply