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Dow Jones Industrial Average hits 40,000 for the 1st time
Posted on 5/16/24 at 12:37 pm
Posted on 5/16/24 at 12:37 pm
quote:
NEW YORK -- The Dow Jones Industrial Average crossed 40,000 for the first time in history on Thursday.
This is a significant and symbolic milestone for the index that tracks 30 of the most valuable publicly traded companies in the U.S.
The Dow is now up about 6% so far this year.
The recent rally in the Dow, S&P 500 and Nasdaq has been fueled by data showing inflation is cooling, which would allow the Federal Reserve to begin its long-awaited interest rate cuts.
Inflation data released on Wednesday showed that price increases slowed slightly from the annual rate recorded in the previous month, ending a surge of inflation that stretches back to the beginning of 2024.
In recent months, the Fed had all but abandoned its previous forecast of three quarter-point rate cuts this year. But the slowdown of price hikes offered hope of rekindling those plans.
"The combination of the Fed likely to be lowering interest rates because inflation is moderating with a resilient economy is a beautiful scenario for a bull market," Ed Yardeni, the president of market advisory firm Yardeni Research and former chief investment strategist at Deutsche Bank's U.S. equities division, told ABC News.
"It's more enjoyable to say the market is going to these nice, round numbers in record-high territory than coming back down to them," Yardeni added.
The inflation news on Wednesday sent each of the major stock indexes up more than 5% for the day, propelling all of them to record highs. In early trading on Thursday, the Dow had ticked up a quarter of a percentage point.
Observers have also attributed this year's stock market rally to the rise in value of some major tech firms, driven largely by enthusiasm about artificial intelligence.
LINK /
Gasoline and crawfish prices falling. Stock market rising.
Building Back Better is working!
This post was edited on 5/16/24 at 12:39 pm
16
Posted on 5/16/24 at 12:38 pm to ragincajun03
frick that blubbering tranny loving idot.
Posted on 5/16/24 at 12:39 pm to ragincajun03
Why not. Things have never been better.
Posted on 5/16/24 at 12:43 pm to ragincajun03
Let’s Geaux Joe !
Jk, i realize that the POTUS , or whoever happens to occupy the Oval Office- has very little to do with the stock market, but apparently the “FJB” crowd does not realize it….
Jk, i realize that the POTUS , or whoever happens to occupy the Oval Office- has very little to do with the stock market, but apparently the “FJB” crowd does not realize it….
Posted on 5/16/24 at 12:45 pm to ragincajun03
let's go brandon!
Posted on 5/16/24 at 12:46 pm to ragincajun03
Brandon's America
Posted on 5/16/24 at 12:47 pm to ragincajun03
So that book “ the 40,000 Dow” written back in 99 that everyone had finally came true.
Posted on 5/16/24 at 12:48 pm to BK Lounge
quote:
i realize that the POTUS , or whoever happens to occupy the Oval Office- has very little to do with the stock market
This is a lot more true than a lot of people want to accept
Also, FJB
Posted on 5/16/24 at 12:50 pm to WestCoastAg
Excited to see your boy Joe next month in the debate
He should do really well don’t you think?
He should do really well don’t you think?
Posted on 5/16/24 at 12:50 pm to ragincajun03
quote:
Building Back Better is working!
Adjusting for inflation, it is a whopping $2500 higher than it was at the close of 2020, and that was at the height of the pandemic
Posted on 5/16/24 at 12:52 pm to ragincajun03
quote:
It took 103 years for the index to top 10,000, set during the dot-com boom in March 1999, another 18 years to cross 20,000, accomplished in Jan. 2017, about 3.5 years to surpass 30,000 in Nov. 2020 and another 3.5 years to eclipse 40,000.
Do people realize it will ALWAYS go up over the years?
Posted on 5/16/24 at 12:55 pm to ragincajun03
All you people downvoting this awesome news hate prosperity and are rooting for the American economy to fail simply because your boy got beat down on Tuesday, November 3rd of 2020.
This post was edited on 5/16/24 at 1:07 pm
Posted on 5/16/24 at 12:56 pm to BK Lounge
quote:
but apparently the “FJB” crowd does not realize it….
We are at least intelligent enough to know that what the DJIA is doing and what is happening to the average consumer's wallets when they are shopping for basic items are very much different things. Also, who occupies the Oval Office can have a lot to do with the stock market, as the current POS has demonstrated by virtually flatlining growth from 2022 until the current FY with ignorance-driven rhetoric that destabilizes the markets. I'll let you in on a very obvious piece of knowledge about stock markets that you seem to lack: they LOVE stability. They don't care so much if it's a D or a R in the WH as long as they aren't telling entire core sectors of our economy that they advocate shutting them down (e.g. oil, coal, etc). When there's predictability, there's growth.
Posted on 5/16/24 at 12:57 pm to ragincajun03
Well considering that a dollar is worth about 75% of what it was worth in 2021, where does that leave us?
Posted on 5/16/24 at 12:59 pm to ragincajun03
Bless your heart
Posted on 5/16/24 at 1:00 pm to ragincajun03
quote:
Y’all you people downvoting this awesome news hate prosperity and are rooting for the American economy to fail simply because your boy got beat down on Tuesday, November 3rd of 2020.
Would you be cheering if the government made everyone a millionaire overnight?
You're cheering on a very inflated figure as if we should be thrilled with how much everything costs today. Woohoo, the DOW has had a staggering 2.5% APY during Biden's term adjusted for inflation. Break out the bubbly
Posted on 5/16/24 at 1:03 pm to LNCHBOX
facts he's a democrat so he doesn't understand economics
Posted on 5/16/24 at 1:03 pm to ragincajun03
So you guys like big business and Wall St now? I'm confused.
Posted on 5/16/24 at 1:10 pm to ragincajun03
An election year.
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