Dow Jones Continues Historic Climb - WLNS TV 6 Lansing - Jackson | Your Local News Leader

Dow Jones Continues Historic Climb

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EAST LANSING, Mich. (WLNS) - The Dow Jones continues it's historic climb for the ninth consecutive day, a streak not seen since late 1999.

MSU Finance Chair Naveen Khanna says is a positive effect of sequestration.

"I think this which was thought to be something unthinkable, is perhaps the only thing possible in the current economic or political environment," said Khanna. He says government became oversized under both democratic and republican Congresses and having regulation fall to the private sector is a welcome change.

"The private sector is going to do a much better job with that and I think that is what is being captured by the dow in my opinion."


The U.S. Commerce Department announced retail sales were up 1.1 percent in February--a trend typically followed in Michigan.

"Four out of five retailers said they expected increases for the full year. Most of those increases were mid single digits, but that's still good," said Tom Scott, vice president, Michigan Retailers Association.

Smith also says unemployment numbers need to come down before main street takes a sigh of relief, but he remains confident it's only a matter of time.

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