Dow Crosses 38K for the First Time

Stock market notches a milestone
By Newser Editors,  Newser Staff
Posted Jan 22, 2024 12:20 PM CST
Dow Crosses 38K for the First Time
Traders work on the New York Stock Exchange floor in New York on Wednesday, January 17, 2024.   (AP Photo/Ted Shaffrey)

The stock market keeps picking off records: The Dow Jones Industrial Average on Monday crossed 38,000 for the first time in its history, reports the Wall Street Journal. Whether it closes above the threshold is another story, having since dipped back below it. The milestone comes after the benchmark S&P 500 closed at a record high on Friday and was on track for another record closing on Monday. It's all a continuation of a bull run that began in October 2022, per CNBC.

"It's almost like a fear of missing out," says Brian Price of Commonwealth Financial of the market's rise. "We had a little bit of volatility to start the year as investors maybe rebalance portfolios and look to realize some gains. But now, it just seems like we're resuming the trend that was clearly in place." The tech-focused Nasdaq also was in positive territory early Monday afternoon. (More stock market stories.)

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