on Friday closed above the 40,000 threshold for the first time ever, driven by the latest leg up in the stock market rally after softening inflation data rekindled investor optimism about rate cuts.
“Along the way, there could be corrections and even another bear market. But we expect that earnings growth, supported by productivity gains, will drive the stock market higher over the rest of the decade,” analysts wrote. Yardeni notes that, according to Dow Theory, the recent rise of the DJIA to a new high may not be sustainable unless it is confirmed by theThey believe that leaner business inventories will soon boost demand for transporting goods, and relatively stable fuel prices will benefit transport companies and their stocks.
“The former is getting a boost from the strength of the US economy, while the latter might be weighed down by weakness in the global economy and competition from Amazon . During the week of May 21, the Investors Intelligence BBR rose to 3.45, pointing to a significant shift back into the bullish camp, with 59.4% bulls and only 17.2% bears.
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