Howard Gold’s No-Nonsense Investing: 5 reasons why stock-market skeptics look so off base

A mid-August heat wave has eased slightly here on the East Coast, and summer is rushing to a close. Labor Day weekend is only two weeks away, kids in some states already have started school, sunset comes earlier, and I’ve even seen a few scattered brown leaves on the ground.

Things are pretty placid on Wall Street, too, and will get even quieter as traders decamp for the beach. Earnings season has ended, the Federal Open Market Committee won’t meet again until late September, and volatility and trading volume are way down.

And by the way, all three major U.S. stock market indexes — the Dow Jones Industrial Average DJIA, +0.12% the S&P 500 index SPX, +0.19% and the Nasdaq Composite Index COMP, +0.03% — hit all-time highs last Thursday, the first time we’ve seen that trifecta since 1999.

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