Time to Celebrate? The Dow Officially Closes Over 40k
By Kristen Scholer
(Michael M. Santiago/Getty Images)
Psychology matters.
That’s what traders on the floor of the New York Stock Exchange say as major market indexes, like the Dow Jones Industrial Average, approach milestones.
This time it’s Dow 40,000.
Ball caps donning the mark started circulating throughout the trading floor Thursday when the blue-chip index hit the big-round number on an intraday basis.
While the Dow’s “psychologically important” level may be capturing headlines, its large-cap index peers - the S&P 500 and the Nasdaq Composite — are in record territory too.
The latest gains are fueled by better-than-expected corporate earnings, the Federal Reserve indicating it doesn’t anticipate a rate rise on the horizon, and softening economic data.
Momentum matters in the market, and surpassing key thresholds can add to positive sentiment among investors.
This milestone, other than its unique number, is no different than other big-round numbers hit by the Dow in the past.
Dow 30,000; 20,000, 15,000 and 10,000: these are all notable levels celebrated throughout the market’s history.
Dow 20,000 was a little different because it happened during the first year of the pandemic on Nov. 24, 2020, but for those of us still working from the NYSE floor during that time, it was memorable.
It preceded a run by the market to new highs in 2021, on the back of ultra-low interest rates and after a presidential election.
The Dow hitting 40,000 today will certainly bring about new, happy memories.
Ben Geman, Energy Reporter at Axios, joins to discuss the latest Middle East tensions, Brent crude price swings, and why gas prices aren’t falling with oil.
Al Root, Associate Editor at Barron's, joins to discuss Tesla’s robotaxis going live in Texas—what it means for autonomy, safety, and the EV race ahead.
Dena Jalbert, M&A expert and CEO of Align Business Advisory Services, on the state of U.S. M&A: deals worth $1–$10 billion (including debt) are surging.
Jeremy Jansen, Head of Supply Chain at Wells Fargo, unpacks the ongoing trade talks between the United States and China as consumers still wonder about tariffs.
A group of Democratic Texas lawmakers is asking Elon Musk to delay his rollout of driverless ‘robotaxis’ in the state this weekend to assure the vehicles are safe enough.
The billionaire slated to takeover the controlling interest in the Los Angeles Lakers has built a career leading businesses investing in everything from sports franchises to artificial intelligence.
IBM Fellow Jerry Chow talks IBM’s expansion of the Quantum Data Center in Poughkeepsie, installing Heron processors that deliver utility‑scale performance.