Bulls and Bears

Dow, S&P Hit Five-Year Highs

With the House GOP set to vote next week on a temporary extension of the debt limit, the Dow Jones industrial average and the S&P 500 closed at their best levels since December 2007. It’s not all good news, though. Amid a weak consumer-sentiment report and mixed batch of corporate earnings, the CBOE Volatility Index (VIX) dipped to its lowest level since April 2007. "We've had little pleasant packets of surprises as these corporations keep coming through," said equity strategist John Manley. "You need to remember that the market is near a five-year high and the economy is recovering at a subpar rate."