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Traders work on the floor of The New York Stock Exchange on March 5, 2013 in New York City. Within the first few minutes of trading Tuesday, the Dow gained nearly 100 points, rising as high as 14,226.20, a new record high.
The Dow Jones industrial average reached a record high this morning. The last time it managed to do that was five and a half years ago, just before the Great Recession. It’s huge news for those working on Wall Street, but what does it mean for those of us on Main Street?
The Dow measures the performance of 30 of America’s best-known companies, including General Electric, Chevron, and Wal-Mart, but does it accurately gauge the state of the U.S. economy? Should the average person care?
Paddy Hirsch, the Senior Producer of Marketplace Money and the author of “Man versus Markets, Economics explained, plain and simple.”
Christopher Thornberg , economist and founding partner at Beacon Economics in Los Angeles.