Dow closes just points away from 40,000 as US markets rally to new records

[brooklynite]

Source: CNN

Thursday was a pretty good day for Wall Street — the Dow Jones Industrial Average is closing in on the 40,000 threshold for the first time in its 128-year history as markets rallied to new highs.

The Federal Reserve sent stocks soaring on Wednesday after officials kept interest rates unchanged and maintained their forecast for three rate cuts this year. All three major indexes ended the day at new highs and the S&P 500 crossed the key 5,200 level for the first time.

That record-setting boom continued when all three indexes hit new highs once again at the close of Thursday’s session.

The blue-chip Dow gained 269 points, or 0.7% to set a new record at 39,781.5. The S&P 500 was up 0.3%, reaching an all-time high of 5,241.53, and the tech-heavy Nasdaq grew 0.2% also breaking its record to reach 16,401.84.

Read more: https://www.cnn.com/2024/03/21/investing/stocks-dow-40000-rally-markets-fed/index.html

[Mike Nelson]

1. Well...

... FOX "News" must be going crazy over the booming Biden economy! I'll bet their little Dow watch graphic in the lower right corner is blinking and growing BIGGER!

[Yavin4]

4. Fox News is 24/7 migrants and Hunter Biden

There's an old lady in my gym that switches one of the TVs to Fox News, and all day long it's migrants and Hunter.

[Mike Nelson]

5. I know...

... I looked at FOX after I saw a report. They did not mention the Dow and their little Dow graphic was gone.

[Prairie Gates]

2. Trump explicitly argued that 401Ks would be destroyed by the Biden presidency

It was one of his repeated talking points. Anybody with a 401k or 403b who is not pretty much as rich as they've ever been (at least in their retirement accounts), well, I don't know what you've been doing.

The commercials write themselves. Clips of Trump repeating that 401ks would be devastated, followed by news clips of the markets hitting ever new records.

[TBF]

3. Projected rate cuts later in year get folks excited -

they will start buying again. Cars, appliances, etc.

Good news for Biden if folks are feeling happier in the fall ...

[twodogsbarking]

6. The first time it hit 10,000, on Mar. 29, 1999, the world was a very different place.

(It crossed a number of times after, including, the last time, in 2009 after the financial crisis.)

[ProudMNDemocrat]

7. Thanks Joe!