Stock markets have surged to near five-year highs, thanks to a strong 2012 for investors followed by a rousing January. So where’s the party?
The Dow Jones industrial average is flirting with 14,000, having bounced back from the darkest days of the financial crisis. US stocks have doubled in value since March 2009, meaning many Americans have at least recovered their losses from that period. But for a bull market of this scale, there’s a distinct lack of euphoria out there.