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S&P 500 Continues Higher After Record Highs, Dow Jones Above 40,000

Stock markets are on a significant upswing, with all three major indices hitting all-time highs, including the S&P 500 and the Dow Jones index, which reached the historic milestone of 40,000 for the first time ever. The impact of these record highs on Main Street could be substantial.

Yesterday’s US Consumer Price Index (CPI) report for April brought some relief to the stock market as inflation appeared to be slowing down, contrary to earlier projections of higher consumer prices. This news likely bolstered investor confidence, leading to increased trading activity. In response to the CPI report, all three major stock market indices saw gains at the close on Wednesday.

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The Nasdaq Composite led the way with a notable 1.40% increase, followed by the S&P500 with a 1.20% gain, and the DOW Jones Industrial Average with a more modest 0.90% increase. Today, the upward momentum seems to continue, with the Dow Jones Industrial Average nearing the historic milestone of 40,000. However, the market appears to be experiencing a calmer situation compared to the previous day’s trading session.

Dow Jones Index Chart Daily – Breaking Above March High

Market Overview:

  1. Record-High Closures:
    • The three US major market indices closed at all-time highs yesterday.
    • The Dow Jones Industrial Average (DJIA) reached 40,000 for the first time.
  2. Notable Absentees:
    • Major tech stocks like Nvidia and Alphabet were not among the key drivers of this surge.

Potential Impact on Main Street:

  1. Public Perception:
    • Newspaper headlines will likely highlight the new high, which could attract more investment from the general public.
    • Increased media coverage may boost market enthusiasm and participation.
  2. Political Implications:
    • The President is expected to leverage this milestone to underscore economic strength and possibly influence public opinion.

Historical Context:

  1. Previous Milestones:
    • The DJIA reached 30,000 in November 2020.
    • It broke through 20,000 in 2016.

The recent all-time highs in the major indices, particularly the Dow Jones Industrial Average’s milestone of 40,000, signal strong market performance and have broad implications. Increased media coverage and political attention tomorrow are expected to further bolster investor confidence and market participation,, fueled by the allure of reaching the new milestone. Despite the absence of some major tech stocks in this rally such as Nvidia, the overall market sentiment remains optimistic, emphasizing the enduring strength of equities.

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Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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