The Dow has hit 20,000; now what?
This is the greatest sucker's rally in history, says David A Stockman, the former budget chief for president Reagan
New York
YES, it is just another number.
But in an industry that lives and dies by the power (seen and unseen) of sums in all their varieties, that the Dow Jones industrial average closed above 20,000 on Wednesday was enough to give even the most hardened stock market watchers reason to smile. The Dow finished the day at 20,068.51.
"It blows me away," said Jim Paulsen, chief market strategist at Wells Fargo Asset Management. "I can remember when …
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
China 2024 growth outlook raised to 4.8%, deflation risk lingers
Luxury sector outlook clouded by China’s slow recovery
TikTok CEO expects to defeat US restrictions: ‘We aren’t going anywhere’
TikTok artists and advertisers to stay with app until ‘door slams shut’
Biden signs Ukraine aid, TikTok ban Bills after Republican battle
UAE announces US$544 million for rain repairs, says lessons 'learned'