(NEW YORK) — With many records at the stock market this year, investors are remaining positive as 2013 comes to a close.
On Friday the Dow Jones Industrial Average stayed flat while the Nasdaq Composite fell slightly. The Dow finished the day down 1.47 points to 16,478.41, while the Nasdaq fell 10.59 points to 4,156.59.
With 50 record-high closings at the Dow so far this year, Art Cashin with UBS Financial Services says one reason investors have stuck with stocks is that it looked like the best place to be.
“A lot of money has flowed into the market based on the T.I.N.A. concept… That stands for, There Is No Alternative, and many investors felt that with bonds — looking to see yields going up, that stocks were about the only place you could put money in to make money,” Cashin said.
Copyright 2013 ABC News Radio
Madison Park, Keith Allen and Andreas Preuss, CNN