The Dow Jones Industrial Average blew past 38,000 for the first time in just 25 days, the shortest time between a 1,000 point upward move since 2021, as tracked by Dow Jones Market Data Group.
The Dow closed at 38,001.81 on Monday, a new record, along with the S&P 500 which is also sitting at a fresh all-time high. All three of the major market averages continue to climb, building on the momentum from 2023.
“When a bull market has hit a first year anniversary as this one did last October, its almost always gets a second. First years Presidential election years a positive 83% history with 11% average returns. When the second year of the president’s term has been negative like 2022 was, the fourth year, like this year, has been positive every single time no exceptions since the bottom of the Great Depression in 1932. The bull market is intact” said Ken Fisher, founder Fisher Investments during an interview with FOX Business’ Charles Payne.
Goldman Sachs, which just posted a 50%+ jump in profits, added the most points for the latest move, along with Amgen while United Health and Boeing saw their shares slide.
Earlier this year, Boeing was dealt a blow after a door panel popped off mid-flight on an Alaska Air 737 Max Jet, grounding flights and prompting ongoing investigations from the Federal Aviation Administration (FAA) and the National Transportation Safety Board (NTSB).
The broader gains also come ahead of the New Hampshire and South Carolina primaries with former President Trump facing off with Nikki Haley after Ron DeSantis ended his campaign on Sunday.
Additionally, there are several big earnings reports this week, including Netflix and Tesla.
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And Dow members are slated to report results, including Verizon, Procter & Gamble, Johnson & Johnson, 3M, Dow, Intel, Visa, Caterpillar and American Express.
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