The Ibex 35 in Madrid ended at its highest 2

One of the best month of September has long helped Wall Street yesterday jeopardized his peak reached in January 2000 before the collapse of the bubble of the Internet, media and telecoms. The Dow Jones industrial average of 30 values stars of the American stock exchange index yesterday reached a high of 11.720,46 points, against a historical record of 11.722,98 points reached in closing on January 14, 2000. However, at the end of sséance, the index featured more than 11.689,24 points, up 0.17.

More than six and a half years after one of the most violent corrections sustained by Wall Street the Dow Jones dropped 38 percent at its low point in October 2002 at 7.286,27 points observers are not particularly worried that Wall Street flies to new heights. "What is surprising is that this has taken so much time", thus considers James Glassman, a specialist in the financial markets at the American Enterprise Institute (read below).

The results of the major American businesses showed a progression in two digits of their results for 17 consecutive quarters. Suddenly, the strategists who think that there are still margins of progression for the Dow Jones are not uncommon. The Legg Mason fund managers have made large values one of their main investment themes this year.

In recent weeks, investors were able to overcome their double fear that a sharp slowdown in the economy was going to intervene and that inflation would continue to grow. The latest statistics point rather to a slowing of the pace of increase in prices, while consumer spending is rather better than expected. Tuesday, the study of September of the Conference Board on the morale of the households thus showed a level higher than expectations. Of course, the real estate market continues to suffer: for the first time in ten years, the price for the sale of the old houses is in retreat in August. But the fall in the price of around $ 60 per barrel allowed a decrease in the price of gasoline pump that relieved the portfolios of the household. September may be the best month of the year for Wall Street, while this month is traditionally one of the worst.

The Nasdaq to half of its peak

If the Dow, with securities industry like Boeing and Caterpillar or its oil as Exxon either its institutions such as American Express, is passed over his records from before the bursting of the bubble, this is not the case of the Nasdaq. The technological market, on which the speculation had been the unbridled sailed less than half of its peak on March 10, 2000. & Standard Poor's 500 index, broader that index Dow Jones, has not recovered its level from before the collapse of the bubble it is a little more than 13 below even though it is closer.

Elsewhere in the United States, and particularly in Europe, the SMI of the Swiss stock exchange index broke the all-time record in closing with a gain of 0.36, to 8.413,07 points. The Ibex 35 in Madrid ended at its highest ( 2.64, to 12,950 points). The BEL-20 in Brussels, which exceeded the 4,000 points last week ceased to follow the records these days to yesterday 0.78, to 4.062,43 points.

The Paris CAC 40 is 25 below its record, against 32 for the Dow Jones. 5.240 About points, the Paris stock exchange is still not found the 7,000 points as it had come just early September 2000.