Just as everyone was predicting doom for the stock market Wall Street is up again today. Both the Dow and S&P 500 are at new highs for the year.
The Dow has been as high as 9,927.29 this morning. The index hasn’t been above 10,000 since last October 7. At this rate, we may break 10,000 very soon. The S&P 500 has been as high as 1,078.39 this morning, which it last reached on October 6, 2008.
Some of my favorite stocks continue to do very well. For example, Ebix Inc. (EBIX), which I recommend in my Emerging Growth service, is up over $60. I first added Ebix to our Buy List in March and we now have a massive 240% profit.
The company sells insurance industry software products and services in Asia, Australia, Europe and North America. This company is not your standard IT firm, however. The company’s Ebix.com web site acts as an online auctionhouse for auto, home, health, life and other types of insurance–and Ebix gets a fee on each transaction. It’s cutting-edge applications like this that make Ebix an industry leader.