(New York, NY) — The Dow Jones Industrial Average has hit another record high. The Dow is soaring past the 29-thousand mark for the first time today.
— SmBizAmerica® (@SmBizAmerica) January 10, 2020
Some pessimistic economists warn that the stock market is not the economy. But hey, the new high is still great for your 401K.
DOW 29000. Important to remember that the stock market is not the economy, and even less representative of the economy than in the past. The DOW and S&P more reflective of largest and most profitable companies than in the past, a concentration that has also undermined wage growth
— Diane Swonk (@DianeSwonk) January 10, 2020
The new record high comes less than two months after it reached 28-thousand for the first time on November 15th.
It continues a remarkable climb for the stock index of the 30 largest companies in America.
The Dow crossed the 20-thousand point threshold about three years ago, on January 25th, 2017 after President Trump was elected.