Dow Jones record high puts index over 40,000 for first time

Shares for most of the firms tracked by Dow rose in value on Friday, led by Intel (4.7%), IBM (2.8%) and Home Depot (2.6%), while shares for Walmart, Boeing and JPMorgan Chase fell slightly. The close was just shy of a previous record close of 40,003 set on May 17. The index closed above 18,000 on Dec. 23, and then closed its high for the year at 18,053.71 on Dec. 26. The chart below shows four of those closing records, as they increase by the thousand.

After hitting the Jan. 26 peak, the Dow went into free fall, dropping 4% the next week. On Feb. 8, it entered a market correction when it fell 1,032.89 points to 23,860.46. This was the Dow’s third consecutive trading day with a record close and the fourth record closing in just two months. The previous high was recorded just a day prior, when the index ended the trading day at 36,585.06. Through much of 2022 and 2023, investors were cautious and bearish about equity markets as inflation rocketed. Then, in the last few months of 2023, investors began piling back in as hopes grew that interest rates would soon be cut and a nasty recession averted.

The 2008 stock market crash was more dramatic than any other downturn in U.S. history. The one before that came on the final trading day of 2021, when Dow closed at 36,488.63 on Dec. 29, 2021, smashing the record it set on Nov. 8, 2021. The Dow witnessed a sharp decline in the end of November over fears of inflation and the COVID-19 pandemic, before resuming its quest to break more all-time high milestones.

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In U.S. economic news, revised data released by the University of Michigan showed consumer sentiment in the U.S. improved less than previously estimated in the month of November. Overall trading appeared somewhat subdued, however, as traders looked ahead to the release of key U.S. economic data next week, including readings on synergy fx review 2021 traders ratings consumer price inflation preferred by the Federal Reserve. The U.S. stock market will next week break on Thursday for the Thanksgiving holiday.

The spinoff will position its remaining assets better for growth, the entertainment giant said. Those include „NBC entertainment, sports, news and Bravo—which all power Peacock—along with Telemundo, the theme parks business, and film and television studios.“ Stay 7 of the best cryptocurrencies to invest in now tuned here for the details from the earnings report, the conference call with executives and the market reaction to what is widely regarded as the most important earnings release of the quarter. The company forecast revenue of $37.5 billion for its fiscal fourth quarter, above the analyst consensus of $36.9 billion. The big mover Wednesday was Target (TGT), which plunged 21% after the retailer reported results that came in short of Wall Street expectations on both the top and bottom lines. Shares of TJX Companies (TJX) were up slightly after the parent of discount retailers TJ Maxx and Marshalls released its quarterly results.

How do you invest in the Dow Jones Industrial Average?

Bitcoin (BTCUSD) rose to a record high of $94,500 Wednesday morning, extending a post-election rally amid optimism that the Trump administration will implement policies that benefit the cryptocurrency market. The retailer reported $25.67 billion in revenue, up from $25.40 billion a year ago but below the $25.89 billion analysts expected, according to estimates compiled by Visible Alpha. Net income fell to $854 million, or $1.85 per share, down from $971 million and $2.10 per share a year ago. Despite the huge rally Wednesday in stock markets, the bond markets are reacting more negatively to Trump’s victory — and to the potential consequences of some of his economic policies.

Meanwhile, shares of Intuit (INTU) came under pressure after the financial software company reported better than expected fiscal first quarter results but provided disappointing guidance for the current quarter. Nvidia fluctuated before ending Thursday’s session up by 0.5 percent after reporting better than expected third quarter earnings and revenues. (RTTNews) – Extending the upward move seen over the course of Thursday’s session, stocks saw continued strength during trading on Friday.

Index , DJIA

Since the Dow tracks just 30 large-cap U.S. companies, some critics argue that it is too narrow to represent the state of the overall U.S. economy. Given its large-cap focus, the roster of companies included in the Dow fails to include companies of other sizes. Most market observers think the S&P 500 is a much better representation of the economy, as it includes 500 companies and draws more widely from different sectors. These changes are not done often to ensure the index’s stability and continuity.

Dow closes at record high as S&P 500 scores weekly gain ahead of Thanksgiving

1. Yields were holding relatively steady Thursday following some mixed data on the economy.
2. Several firms raised their price targets in the days ahead of the report, with Stifel analysts bumping their price target earlier this week to $180 from $165.
3. The Dow closed up 426 points, or 1%, and finished the week just above its prior Nov. 11 record close.
4. The longest bull market in history lasted about 11 years, starting in March 2009 and ending in February 2020.
5. The Dow Jones Industrial Average is one of the many gauges of stock market performance.

The Dow Jones Industrial Average is one of the many gauges of stock market performance. This history of the Dow since the Great Depression demonstrates how stock market fluctuations reflect the natural stages of the business cycle. While you can’t directly buy shares in the market index, you can invest in the DJIA through index funds and exchange-traded funds (ETFs) such as the SPDR Dow Jones Industrial Average ETF Trust (DIA). These funds track the DJIA through a similar composition and weighting of stocks.

But this robust start was not indicative of extreme volatility the index would face cryptocurrency converter and calculator tool as the year progressed. First, the conflict between Russia and Ukraine saw gas prices spike sharply. At the same time, the strength in the U.S. labor market meant extremely competitive wages driving consumer demand. Both of those factors sent inflation in the U.S. soaring to record levels not seen in over 40 years. As global markets grapple with uncertainty surrounding the incoming Trump administration’s policies and fluctuating interest rates, investors are seeking stability amid the volatility.

That correction was more than 16% lower than its all-time high set in May of the same year, putting the index into a correction but not a bear market. Investors worried that China’s yuan devaluation and the uncertainty over the Fed’s rate increase would push the index further downward. The Dow responded with new highs throughout the latter part of 2019, even though trade negotiations had broken down until November. It hit a milestone on July 11, closing above 27,000, and then another on Nov. 15, closing above 28,000 (in the chart below, milestones are noted). By the end of 2023, the previous high, registered in January 2022, had been surpassed, and the 37,000 mark had been breached.