The Dow Jones industrial average topped 16,000 points for the first time ever on Monday. Financial experts say the market is trending up this year due to reports of good corporate earnings and fiscal policies from the Federal Reserve. The news is good for smaller markets as well--the S&P 500 and the NASDAQ are also showing big increases on the year. The S&P is up more than 25 percent for 2013.
"Fed policy is definitely having an impact on this market, keeping these interest rates super low and basically in an artificial way," said independent Financial Consultant Douglas LaBar. "But also the corporations have been very strong, they're really able to keep a very lean workforce. That's not good for employment numbers, but it's good for corporations."
Stock experts are also paying close attention to who will replace current Chairman of the Federal Reserve, Ben Bernake, in January. Despite hitting the milestone earlier in the day, the Dow did end under the record number, finishing at 15,976.