Posted on 05/16/2024 9:31:16 AM PDT by ChicagoConservative27
The Dow Jones Industrial Average eclipsed 40,000 points for the first time in its history Thursday as Wall Street cheered slowing inflation and potential for lower interest rates.
The iconic stock index was up roughly 111 points shortly before 11 a.m. Thursday, reaching about 40,020 points. The Dow was created in 1895 and includes the 30 most prominent U.S. companies as determined by S&P Dow Jones Indicies.
The Dow is up 6 percent since the start of 2024 as investors eagerly await Federal Reserve rate cuts, which could add more fuel to the stock market. While the Fed has held off on rate cuts so far thanks to a combination of strong job gains and rising inflation, new data from the Labor Department showed price gains slowing for the first time since last year.
The Dow, Nasdaq composite and S&P 500 index all closed at record highs Wednesday.
(Excerpt) Read more at thehill.com ...
Expecting Biden to win re-election.
Yes Ukraine bogus investment is paying off
“…slightly less…”
LOL
Dow closed at 39,989 today.
Value of money drops further, meaning that it takes more of it to buy stock.
GMTA!
Yup.
Even lower the farther back in time one goes.
My first brand new car cost $3400.
And it had a 3 year loan.
Average new house in Indiana is around $300K
Yup.
It slides the percentage you pay into higher and higher brackets
How much does your gold weigh?
Or do you just have a piece of paper that SAYS you have gold - somewhere.
I hope you are correct and I am counting on that. You would have been through history up to this point.
A foot is 12 inches.
Now, imagine that an inch gets shorter - so that a foot is now 13 inches. Or 15. or 20.
It’s the same length, but the inch has shrunk.
That is what’s happening with the dollar. The DOW isn’t getting bigger, the unit of measure is shrinking. Inflation
I can’t see a legitimate reason for it.
It seems to me all they talk about is micro-interest rate
fluctuations ahead, but it’s really a flimsy excuse > IMO.
If inflation goes back up, crash, boom, bam,... holy cow
Batman.
[Things are very, very wrong.]
I agree.
There’s daily talk of World War III, daily efforts pushing it forward, sadly, and then things like this.
I agree
[You mean that EVERYONE can not afford an $80K pick up truck or SUV ?
Say it ain’t so.]
Exactly.
I’m with you on that. Unfortunately it’s likely.
I’ve seen brand new 100K+ trucks around the streets lately, and I have no idea how people can afford these, but congratulations I guess. We’re sticking with our 2012 Chrysler and 2014 FJ Cruiser. Both have been paid off for a long while and are both going strong. Great engines. Insurance is minimal.
https://finance.yahoo.com/quote/%5EDJI
Dow Jones Industrial Average (^DJI)
40,004.05 +134.67 (+0.34%)
At close: 4:03 PM EDT
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