May 30, 2024

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Dow Jones hits 40,000 points for the first time

Dow Jones hits 40,000 points for the first time

The Dow Jones Industrial Average surpassed 40,000 points for the first time ever before closing near that level as investors celebrated strong earnings and a slight decline in consumer inflation last month. This will mark the third 1,000-point milestone of 2024.

tape protection last It changes % changes
Me: DJI Dow Jones averages 39869.38 -38.62 -0.10%
And die Walmart Inc 64.00 +4.16 +6.95%

The Dow Jones is up about 6% this year and a strong quarter from the nation’s largest retailer, Walmart, helped drive gains on Thursday. It closed above 30,000 on November 24, 2020. Investors are also betting that inflation may cool enough for the Fed to cut interest rates at least twice this year, according to the ECB report. CME’s FedWatch tool.

Walmart sees an expanding consumer

Dow Jones Industrial Average

Goldman Sachs added the most points since 30,000, while 3M shed the most, according to a tracker by the Dow Jones Market Data Group.

The April inflation report is a mixed bag

tape protection last It changes % changes
A Goldman Sachs Group Inc. 464.55 -1.44 -0.31%
Mmm 3M Company 104.87 +3.62 +3.58%

Other notable contributors include Microsoft, UnitedHealth, and Caterpillar.

The road to the Dow Jones 40,000 (Dow Jones Market Dataset)

However, the 30-member index is lagging the S&P 500 and Nasdaq, which are also trading at new records.

Buffett’s Berkshire Hathaway unveils new stock offering

Both indicators rose by about 11% this year, with 77% of companies exceeding earnings estimates this season.

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tape protection last It changes % changes
SP500 Standard & Poor’s 500 5297.1 -11.05 -0.21%
Me: comp Nasdaq Composite Index 16698.320658 -44.07 -0.26%

Google and Nvidia are trading at record levels. The chipmaker’s highly anticipated earnings report is scheduled for May 22.

tape protection last It changes % changes
Google Alphabet company 174.11 +1.60 +0.93%
NVDA Nvidia company 943.46 -2.84 -0.30%