Current dow numbers11/24/2023 Skeptics complain that bad news will hamper growth, but over the past decade, and especially over the past year, the market hasn’t seemed to care about bad news the news is always bad. In 2018, I wrote an article projecting Dow 40,000 by 2025 and now that, too, seems conservative, given the rate of increase and the preponderance of powerful drivers. Skeptics said further jumps like this were unlikely, but here we are in early 2021 with the Dow over 30,000. That turned out to be conservative, as the Dow exceeded that mark in the winter of 2015 and hit 25,000 in the fall of 2017. Fast forward to 2010, when the Dow was at 10,000 and the nation was slogging through the Great Recession, indicators prompted my firm to project 20,000 by the end of 2020. Since I started in this business in 1981, the Dow has doubled five times, once every seven or eight years. Skeptics who regard Dow 50,000 by 2027 as pie in the sky need to wake up and smell the growth coffee they can drink when they have to eat this pie.Įven as the Dow has marched upward, these skeptics have deemed implausible projections that merely recognize average rates of ascent. Increments of the growth or decline of index members are divided by a fractional, 14-decimal-place constant, known as the Dow divisor, to determine the index’s levels of gain or loss. The Dow is a weighted index in which constituents’ growth or shrinkage are constantly quantified. market index, was designed to serve as a proxy for the broader market and, to some extent, the economy. Yet the same kinds of economic and market factors that have goosed rises in recent years-plus some new ones, including the post-pandemic recovery-will be at work. To some investors, this might seem unlikely. So, reaching 50,000 in six years, a 40% increase, is by no means a stretch. The DJIA (aka, the Dow) was hovering around 31,000 the last week of January-after tripling in 12 years. But when this happens, you really shouldn’t be astonished. The company said its electric vehicle adoption was taking longer than expected due to higher costs.The Dow Jones Industrial Average, an index that has astonished with its ascent over the past decade, likely will continue to astonish through the 2020s, rising to 50,000 by 2027. On the other hand, Ford Motor shares fell 3.4% even though the automaker beat estimates and raised guidance. Intel jumped 6.6% as investors applauded a return to profitability, while Roku climbed 31% a day after beating Wall Street expectations on both the top and bottom lines. The consumer goods company behind Tide and other brands beat analysts' earnings and revenue expectations in its most recent quarter. "In the wake of stronger than expected GDP, and a better-than-expected earnings season, this could be the catalyst to send the market to new highs," wrote Gina Bolvin, president of Bolvin Wealth Management Group.Įarnings season continued with Dow member Procter & Gamble shares gaining nearly 3%. The Fed targets inflation at 2% annually. The data is of particular interest after the central bank raised interest rates earlier this week in a widely expected move. Core PCE rose 4.1% from the year-ago period, lower than the anticipated 4.2%. The gauge showed core PCE gained 0.2% month-over-month, in line with the 0.2% increase expected by economists polled by Dow Jones. On Friday, June data for the personal consumption expenditures price index continued to show easing inflation. This week, investors cheered data showing cooling inflation and stronger-than-expected earnings reports that supported the case the U.S. The S&P advanced 1.01%, and the tech-heavy index is up 2.02%. On Thursday, the Dow ended a 13-day win streak, a length not seen since 1987. The Nasdaq Composite gained 1.90% to 14,316.66.Īll three major averages notched weekly gains with the 30-stock average up by about 0.66%. Stocks rose Friday with the Dow Jones Industrial Average and S&P 500 closing out their third winning weeks in a row as a measure of inflation closely watched by the Federal Reserve came in at its lowest in nearly two years. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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