Dow closes over 15,000 for the first time

Another big milestone that's remarkable considering the economy's steady but still-lumbering growth (especially on the jobs front). Some will point to the influence of the Federal Reserve's policies, but another factor might be the dearth of investment alternatives (interest rates are next to nothing and much of the world is struggling). While many professional investors assume we'll see a pullback in the not too distant future, the question is how severe a drop and for how long. Until that time comes, the rally is certain to encourage spending among those fortunate enough to have made some nice money in recent months. At the close, the Dow was at 15,056, up 87 points. From the WSJ:

The Dow's push above 15000 comes as investors' confidence in the economic recovery grows. While earnings reports have been lackluster in recent weeks, a strong report on U.S. hiring last Friday helped dispel worries about a slowdown in the economic recovery like the ones the U.S. has suffered in recent spring seasons. "Investors have played the worry game, and those that have sat on the sidelines in cash are starting to question that, because this has been a pretty resilient market," said Sean Lynch, global investment strategist at Wells Fargo Private Bank, which oversees about $170 billion in assets.