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5/8/13

Stock Markets Bubble?: Dow tops 15,000, pumped by central bank largesse - by Michael Babad

The Dow Jones industrial average topped the 15,000 mark, climbing more than 87 points or 0.6 per cent to close at 15,056.20. The S&P 500 also set records again, gaining 8.46 points or 0.5 per cent to close at 1,625.96.

Both hits records last Friday after a report showing a stronger-than-expected jobs market.
Today, an interest rate cut by Australia's central bank helped fuel global market gains, which have also been pushed by corporate earnings.

“Investor appetite for risk assets continues unabated this week as accommodative central bank policy coupled with strong corporate performance fuels demand for equities,” said senior sales trader Alex Young at CMC Markets in London.

Read more: Dow tops 15,000, pumped by central bank largesse - The Globe and Mail

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