The US stock market index Dow Jones has surged above the 40,000 milestone for the first time, driven by strong corporate data and speculation about an imminent interest rate cut by the US Federal Reserve.
The Dow Jones closed above 40,000 points for the first time. The upward movement was fueled by modest gains and positive quarterly results of the companies listed in the Dow. Speculation about an impending interest rate cut by the US Federal Reserve further strengthened the uptrend. The Dow Jones Industrial Average made its debut almost 130 years ago with twelve members. Looking back at the historical milestones, the index reached 10,000 points in 1999, 20,000 points in 2017, and 30,000 points in 2020. It’s worth noting the infamous market crash around the ‚Black Friday‘ in 1929.
The record rally in the US stock market continues, and the Dow Jones has surpassed historical milestones at an increasingly rapid pace. Positive quarterly results and the prospect of a Fed interest rate cut have contributed to this surge.