The Dow Rises 100-fold in 92 Years

The S&P 500 closed yesterday at another all-time high. The Dow closed above 30,000 for the first time ever.

The Dow closed at 300.00 on the nose on December 31, 1928, so that’s 100-fold in 92 years. The index first closed above 3,000 on April 17, 1991.

The market is down so far today. This morning, the government said the report on Q3 GDP growth was unrevised at 33.1%. Bear in mind, this comes after a massive drop for Q2.

Initial jobless claims rose to 778,000. This is the second weekly rise in a row. This is not a good sign, but I want to see more data.

New home sales for October came in at 999,000. That’s the annualized number. The three months prior to that were all revised higher.

For October, personal spending increased by 0.5% while personal income decreased by 0.7%.

Posted by on November 25th, 2020 at 11:17 am


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