July 20, 2024

Taylor Daily Press

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The US stock market index, the Dow Jones, closed above 40,000 points for the first time

The US stock market index, the Dow Jones, closed above 40,000 points for the first time

The Dow Jones had already breached this symbolic barrier on Thursday, but the index failed to maintain this level until the end of the trading day. On Friday, the Dow Jones rose slightly again, reaching 40,003.59 points at the end of the session.

However, the overall mood on the New York Stock Exchange was cautious on Friday. For the Dow Jones Index, daily gains were 0.3 percent. The broader Standard & Poor’s 500 index rose 0.1 percent to 5,303.27 points. The Nasdaq technology stock index fell 0.1 percent and closed at 16,685.97 points.

The Dow Jones Industrial Average is the oldest and most important stock market index on Wall Street. The index tracks the price movements of 30 leading funds. The Dow Jones Index has seen a significant rise in recent years.

Before the major financial and economic crisis of 2008-2009, the index reached more than 13,500 points. During that crisis, it fell to more than 7,500 points. Since then, there has been no action on the Dow Jones. This is mainly due to the policy of the Federal Reserve, the US central bank, which has wanted to keep interest rates as low as possible for years.

In 11 years, the index increased 4 times. In November 2020, the Dow Jones surpassed the 30,000 mark.

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