The Dow Jones Industrial Average marked a historic achievement by closing above 40,000 points for the first time. On Friday 17th May 2024, the index increased by 134.21 points to settle at 40,003.59.
Concurrently, the S&P 500 saw a modest rise, while the Nasdaq Composite closed lower. The rise this week has shifted the three major stock indexes into the green for the second quarter, following a challenging start.
Despite some investors’ concerns about the sustainability of the rally, the mix of economic expansion and slowing inflation continues to act as a positive driver.
It’s an optimistic setup for the near future in 2024