Nov 15, 2019

Dow closes, hits 28K for the first time ever

Traders on the floor of the New York Stock Exchange (NYSE) on Nov. 15. Photo: Spencer Platt / Staff

The Dow Jones Industrial Average hit and closed above 28,000 for the first time ever on Friday, while the S&P 500 and Nasdaq Composite also closed at new records.

Why it matters: The 28,000 level has no relevance in and of itself, but the markets' new highs in recent weeks is a sign of investors' renewed confidence in the state of the U.S. economy.

  • The S&P 500 is on a six-week winning streak — the longest stretch of gains in two years, per CNBC — though the index's daily gains have been tepid.

Go deeper: The current bull market is actually below average

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A Teflon earnings season

Illustration: Sarah Grillo/Axios

With Q3 earnings season nearly over, investors are applauding, even cheering companies that fall short of expectations or signal next quarter won't be as rosy as previously thought.

Why it matters: Investors' renewed optimism that's pushed stock prices to all-time highs is giving businesses more leeway than in the past.

Go deeperArrowNov 19, 2019

Macquarie strategists project stock market will double in value by 2030

Illustration: Lazaro Gamio/Axios

Strategists at $234 billion asset manager Macquarie Investment Management laid out an exceptionally bullish prediction for U.S. stocks — their equities team is calling for the market to double in value over the next 10 years.

Why it matters: That would put the Dow at around 55,000.

Go deeperArrowDec 3, 2019

Biden: "We're likely to inherit a recession" from Trump

Photo: Preston Ehrler/Echoes Wire/Barcroft Media/Getty Images

Former Vice President Joe Biden said "we’re likely to inherit a recession, at least a significant economic slowdown," during an interview with CNBC's John Harwood.

Why it matters: Biden slammed President Trump's economic policies in the interview, saying Trump's plan won't help the economy grow in the long run. Biden also said Trump is "ripping the soul out of this country."

Go deeperArrowDec 6, 2019