After a month-long rise, Wall Street's bounding bull market passed a notable milestone last week. As the week began, stocks on the Dow-Jones industrial average drove beyond the 500 mark for the first time in history. Yet the record stood only overnight. Confident investors continued to push stock up day after day. By week's end Dow-Jones industrials stood at 507.60, up 9.76 points for the week.

Wall Street's confidence last week was echoed throughout the U.S. economy. The Federal Reserve's annual Survey of Consumer Finances showed that people never felt better about their economic prospects, planned to buy record, or...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!