The Dow’s trip to 37,000 and how long it may take to get to 38,000 (2024)

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The Dow’s trip to 37,000 and how long it may take to get to 38,000? ›

A history of the Dow and big round numbers. The Dow Jones Industrial Average closed at a new record high above 38,000 on Monday. The average number of days between thousand-point milestones for the Dow has gotten shorter over time.

The Dow then climbed above 38,000 in January 2024. 1 The index reached a new all-time high on May 16, 2024, surpassing 40,000 for the first time.

The Dow Jones hits 40,000 points for the first time ever : NPR. The Dow Jones hits 40,000 points for the first time ever Stock markets received a boost from new data showing inflation is easing. Lower inflation has raised hopes about the U.S. economy — but there are still a lot of unknowns.

Traders work on the floor of the New York Stock Exchange during afternoon trading on January 22, 2024. Stocks gained on Monday, building on last week's gangbusters rally, with the Dow crossing the 38,000 mark for the first time ever.

The bursting of the dot-com bubble of 2000, September 11 attacks in 2001, and the Financial crisis of 2007–2008 ensured that the titular target would not be attained within the author's suggested timeframe. It wasn't until 2021 when Dow 36,000 would be reached in actuality, 22 years after the book was published.

Traders work on the floor of the New York Stock Exchange on May 16, 2024. Wall Street is buoyed by hopes the Federal Reserve will pull back on its restrictive monetary policy after data showed inflation is beginning to ease.

In 2024, the Dow Jones rate will be between $37,000 and $38,000. Bank experts predict that corporate income will remain at the same level, which will support stocks during a recession. In addition, earnings growth shortfalls and minimal equity risk premiums are the main constraints on the index's growth.

THE MIRACLE OF COMPOUNDING

Believe it or not, simply compounding at that rate would bring us to Dow 50,000 by 2028 and Dow 60,000 by 2031. Heck Dow One-Hundred Thousand would arrive early in the 2040s and Dow One Million in the 2080s!

What does the Dow hitting 40,000 mean for you? MacBride says Dow 40K should mostly be a sign that you should stay invested for the long term. “Investing today is essentially your bet that the world economy is going to continue to grow, and you want to be part of that growth,” she says.

Has Nasdaq ever hit 17000? ›

The Nasdaq Composite Index hit a series of record highs and closed above the 17,000 milestone for the first time ever. Solid corporate earnings, artificial intelligence (AI) boom and rate cut bets have been driving stocks higher.

Berkshire Hathaway is the most expensive stock listed on U.S. exchanges. At the time of this writing, Berkshire Hathaway stock was trading at $614,530 a share — but that price is for its Class A stock (BRK. A). Retail investors can buy its Class B stock (BRK.

The Dow industrials surpassed the 37000 level intraday for the first time on record Wednesday. The blue-chip index hit its last thousand-point milestone, 36000, in November 2021. UnitedHealth Group has been the biggest point contributor over that period.

They are the ones that tell us how the market is really doing. Case in point: The Dow hit 30,000 for the first time on November 24, 2020. Crossing 40,000 today, May 16, 2024, gives it a 33.333333333333% return in a little under three and a half years.

The Dow Jones Industrial Average topped the 40,000-point level at Friday's close for the first time in its history. Originating way back in 1896 and often considered a barometer of the overall U.S. economy, the index tracks the performance of 30 blue-chip companies.

David Elias forecast in a book that the index would cross the milestone by 2016. A couple of market crises interfered with the timeline of David Elias's prophesy. David Elias received a surprise in the mail earlier this month: a dozen baseball caps with Dow 40000 printed on the front and Elias on the back.

The updated Dow Jones price prediction for the next 5 years is for the index to trade around 45,000 points. Long Forecast predicts Dow Jones to trade above 40,000 points in the second half of 2024 and and advance up to 44,000 points by the end of the year.

Yardeni Research's chief investment strategist, Ed Yardeni, told clients in a note that the Dow Jones Industrial Average is on track for a 50% rise to 60,000 by 2030, and the S&P 500 could climb to 8,000, thanks to earnings.