Wow. That’s an appropriate word. The Dow closes above 18,000 today at 18024.04, up 64.60 after a series of relatively positive news on the economic front. Tut what got everyone’s rapt attention was the third revision of GDP forQ3. The new number showed the Gross Domestic Product rose by 5.00%dow closes over 18000 from July through September.

This following a 4.6 percent rise for the second quarter of 2014. Remember Q1 ultimately reported negative growth of -2.9% and many thought the number was skewed in some fashion or affected by the harsh winter. Yet no one is thinking of Q1 and if the data was skewed in some way the 4.6 percent Q2 count helped erase that memory.

That said, there were many investors wanting to see if Q2 was an odd number and we know that it wasn’t. Instead, Q3 followed up with a surprising 5.00 percent mark, the largest quarterly expansion in 11 years. It seems equity investors have few places to go other than on Wall Street. At least as far as certain stocks are concerned. The NASDAQ on the other hand, took a hit as the biotechnology sector placed a drag on any momentum.

We may be right in the middle of the “Santa Claus” effect which means a nice little year-end rally. If that’s the case, we’ll soon find out once Santa Claus has left the building and trading starts up in earnest next month.

Falling oil prices are putting more dollars in American’s pockets with the price of oil still below $60. West Texas futures for February fell to $55.26 according to a report on So how far will oil go? According to the same story, Saudi Arabia said it wouldn’t cut production even if the price of oil dropped to $20. That’s bad news for oil companies and really bad news for economies that rely primarily on the price of oil. Until then, enjoy the Santa Claus rally. Just tip-toe through January as investors are mumbling about another bubble in stocks.