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It's the Economy

USA Today notes the "subdued reaction on the floor of the New York Stock Exchange at the close of trading Tuesday...  This Dow milestone seems to lack the emotional euphoria, the feeling that stocks will keep going up forever, the sense of financial well-being that most investors felt at the top of the market in 2000." 

The White House issued a release yesterday noting the Dow's record-high close and still-falling oil prices.  The new NBC/Journal poll taken before the Dow broke a record shows a majority of Americans -- 61% -- saying the stock market increase has had no effect on their level of confidence in the country's overall economic conditions.  Twenty-five percent say the increase makes them feel more confident about them.  The drop in gas prices is having a greater affect on people's views of the US economy: 31% say it has made them feel more confident about the country's economic conditions, while 50% say it's had no effect.  But 62% also say they give President Bush "very little" or "no" credit for the decrease in prices.

Fed chief Ben Bernanke gives what will be a closely scrutinized mid-day address, with Q&A, in Washington today, CNBC's Patti Domm notes.