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Updated: 3:51 PM Dec 2, 2010
Stock market on the rise, good time to invest?
It's a new month for the stock market and stocks are starting December with a jump.
Posted: 7:01 PM Dec 1, 2010Reporter: Ashley Prchal Email Address: ashley.prchal@nbc11news.com |
FILE - In this file photograph taken Oct. 13, 2010, specialists Patrick Murphy, left, and Evan Solomon work at a post on the floor of the New York Stock Exchange. Stock futures are rising Monday, Oct. 25, 2010, after world finance leaders have pledged to better balance global trade in an effort to help drive economic expansion. (AP Photo/Richard Drew, file)
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GRAND JUNCTION, Colo. (KKCO) - It's a new month for the stock market and stocks are starting December with a jump.
The stock market is the highest it's been in three months, showing signs of economic growth. But as the points rise, many are left wondering whether or not it's a good idea to start investing or to start pulling out.
“Me and my wife both have investments in different types of stocks,” says Benny Lenard, stock market investor.
Lenard is like many Americans, looking to the stock market with hopes of making some extra cash. But ever since the market crashed he and his wife are on a whole different page.
“Well, we're thinking about taking it out and putting it in land because land and houses are so cheap right now,” says Lenard.
The stock market is showing signs of recovery, with the Dow Jones Industrial Average rising 249 points, its biggest gain since September 1st. Leaving many questioning whether they should be investing now before it’s too late.
“Is it because of this new election with the republicans coming in, is that the reason that market is going to creep back up again?” says Lenard.
Ryan Gullikson, a Wells Fargo Financial Advisor says there is some truth to politics in the stock market.
“We don't get into politics too much here, but what I can tell you that historically since 1926, the third year in the presidential election has been a great year for the stock market,” says Gullikson.
“What's the best area to put my money in?” says Steve Baker, stock market investor.
“They want to be looking into high quality investments, not fly by night investments,” says Gullikson.
Meaning an investment that has been researched by analysts and is proven to be a good investment.
“Typically it's always a good time to invest. It just depends on each individual we talk to, whether it's a good time to invest for them,” says Gullikson.
And those words might be just what some need to hear, to put their faith back into the stock market.
“We're considering buying more stocks because I think it's going to go up,” says Lenard.
Financial advisors say there are always going to be up and downs in the stock market, but if you can invest long term you can get a return on your money.
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