Dow soars to new record of 40,000 points

Record Highs: Dow Jones, S&P 500, Nasdaq Reach New Milestones in 2021

During an episode of ‘Mornings with Maria,’ ERShares CEO Joel Shulman discussed his market outlook and views on consumer behavior. The Dow Jones Industrial Average recently surpassed the 40,000 mark for the first time ever and is on track to achieve its 19th record close. This milestone will be the third 1,000-point achievement of 2024.

Joel Shulman shared his insights on the strong earnings reports and a slight decrease in consumer inflation last month that have contributed to investor optimism. With a gain of about 6% so far this year, the Dow received a significant boost from Walmart’s strong performance in the latest quarter. Goldman Sachs has been a major contributor to the index’s growth since surpassing 30,000, while 3M Co. has had a negative impact. Other companies like Microsoft, UnitedHealth, and Caterpillar have also played notable roles in the Dow’s recent success.

However, despite the Dow’s positive performance, it is lagging behind the S&P 500 and Nasdaq, both of which are also reaching new record highs. These indexes have each seen an 11% increase in value this year, with a majority of companies exceeding profit expectations. Companies like Google and Nvidia are also experiencing record highs, with Nvidia’s highly anticipated earnings report scheduled for May 22.

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