The Dow Jones Industrial Average broke the 50,000-point mark for the first time in history.
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According to ME News, on February 7th (UTC+8), during Friday's US trading session, the Dow Jones Industrial Average (DJIA) broke through the 50,000-point mark for the first time in history. This is the latest milestone achieved by the US economy after years of strong growth. During this period, the US economy not only outperformed other developed economies but also attracted a large amount of investment globally. Chris Hyzy, Chief Investment Officer of Bank of America Merrill Lynch Private Bank, said, "In any case, we don't believe the opportunities in the US market are over." The DJIA's rise in recent months marks a reversal from the trend earlier last year, when Trump's tariffs triggered market turmoil. However, since then, many of Wall Street's concerns about the impact of tariffs have not materialized, and with the continued strong growth of the US economy, investors are optimistic that the Federal Reserve will continue to lower interest rates this year. However, although the DJIA is steadily moving towards the 100,000-point mark, there are still warning signs in some areas of the economy. Inflationary pressures continue to squeeze the lives of millions of low- and middle-income Americans, and US job growth is weak. At the same time, overseas economic growth and expansionary government policies have led to international markets consistently outperforming the overvalued US market in recent months. This may mean that some of the stocks that drove the DJIA's rise may face greater pressure in the future. (Source: ME)
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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