Tagged: S&P

Almost as surely as the sun rises in the east, stories about the stock market hitting new highs are sure to be followed by declines in key indexes.

The stock market hit some major milestones this week: The Standard & Poor's 500 index reached its highest level in more than three years, the Dow Jones industrial average settled in above 13,000 — up about 24 percent since early October — and the Nasdaq rose to its highest level in 11 years. Still, the Federal Reserve has been warning not to get too excited about where the economy is headed next.

David Kotok, chairman and chief investment officer at Cumberland Advisors, says there are a bunch of reason for stocks to be rising.

The better-than-expected jobs numbers released today, sent the markets into positive territory they hadn't seen in years.

The Nasdaq Composite rose to an 11-year high, while the Dow hit its highest reading in almost four years. The S&P gained 1.4 percent, marking its best start to a new year since 1987.