Any minute or day now, the Dow Jones Industrial Average is going to hit 40,000.
That hasn't happened in its 128 year history.
The Dow set a new record 39,781 on Thursday and the balloons and champagne and confetti are everywhere.
The S&P 500 and NASDAQ are booming too.
Stock markets in Europe and Asia got in on the party as well.
The latest peaks come because the investor crowd is jazzed because the Federal Reserve will likely chop interest rates this year, maybe as soon as June.
So much depends on the emotions of a very specific crowd
40,000 is an astronomical sum by any measure, but I can't think of another time when the stock market meant less to day-to-day life.
At least, my life.
I, like most Americans, am only exposed to the stock market through my 401 .
And those measly pennies make me fortunate, I think.
According to the investment house Charles Schwab half of all adults have no retirement account at all.
It also makes me feel vulnerable to their emotions that our foundation isn't stable.
One day we'll look around and all the king's horses and all the king's men couldn't put the stock market back together again along with our 401ks in our retirements.
So much depends on the emotions of a very specific crowd.
On that note, I'm James Brown and as always, be well.
Dow inches closer to 40K milestone
Fed still sees rate cuts in 2024
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