Traders work on the trading floor of the New York Stock Exchange.
Brendan McDermid | Reuters
Futures linked to the Dow Jones Industrial Average Late Thursday, the blue-chip average briefly touched the key milestone of 40,000 for the first time, trading near flat after much hype in the previous session.
Futures tied to a 30-stock index fell just 4 points. S&P 500 Index Futures and Nasdaq 100 Futures Both are also trading close to the flat line.
Although the three major stock indexes fell slightly today, there was no shortage of excitement among market participants.this Dow Chemical The intraday high hit 40,051.05 points, which was higher than the important psychological mark of 40,000 points. It then pulled back and closed down 0.1%.
“The Dow’s significant gains exceeded many expectations, including my own, but our view remains unchanged,” said Todd Morgan, chairman of Bellaire Investment Advisors. “Through wars, recessions, elections, Impeachment, financial crisis and more, long-term investing in quality stocks is the key to building wealth.”
Generalized S&P 500 Index It retreated about 0.2% on Thursday after breaking above the closely watched 5,300 level for the first time the previous day. at the same time, Nasdaq Index It closed down nearly 0.3% on Thursday, having also hit a record high previously.
Thomas Martin, senior portfolio manager at Globalt Investments, said the milestones come amid hopes that interest rates have peaked. He added that continued optimism about artificial intelligence and corporate earnings growth could also help push the market into these uncharted territories.
Despite Thursday’s weak close, the index is expected to end the week higher. The Nasdaq led the way with a 2.2% gain, followed by the S&P 500, which rose 1.4%. The Dow ended the week up 0.9%.
Despite a rocky start, this week’s gains helped push all three indexes into positive territory for the second quarter. Currently, the S&P 500 and Nasdaq are both up more than 11% in 2024, while the Dow Jones is also up more than 5% this year.
Investors will be watching leading indicator data released on Friday morning. As earnings season winds down, companies are not expected to release major financial reports.
About The Author
