Dow Winning Streak: On Thursday, the Dow had a setback and its impressive 13-day winning streak came to an end. The important stock market number went down by 237 points. The longest winning streak since 1897 didn’t happen. If the Dow had risen on Thursday and Friday, it could have enjoyed a great 15-day winning streak. This would have been a really important thing for the index.
Right before it suddenly stopped, the Dow had been doing really well. It had won 13 days in a row, which was its best performance since 1987. It also reached its highest level since February 2022. The
really cool rally happened because the inflation data was better than expected. This made investors feel hopeful that the economy might not go into a recession.
Investors got super pumped about the awesome future predictions, so they started paying more attention to stocks that go up and down with the economy and companies that are making a ton of money. They also became really into technology companies, especially the ones that work with artificial intelligence (AI). The Nasdaq went up a lot on Thursday because Meta Platforms had a really good financial report. But then it went down a little bit.
The Dow’s long winning streak is good news for Wall Street. It means that the stock market is doing well and not just because of the popular Big Tech stocksWhen the blue-chip index rises, the market
normally does well. Despite the upturn, there are still questions. The Fed hiked interest rates to 22-year highs to fight inflation.
Some investors expect 2024 interest rates to fall. But experts think that the central bank might be more careful and not change the rates right away. They might focus more on controlling inflation instead.
As the market goes through these unsure times, some investors can’t agree on what the Fed will do next. Some people think that interest rates might go down a lot in 2024. Some say inflation and a recovering property market may change the central bank’s mind. People will watch the market. Investors must monitor economic changes.