The Dow Jones Just Did Something It Hasn't Done Since 2021. It Could Signal a Big Move in the Stock Market
The Dow Jones Industrial Average (DJINDICES: ^DJI) measures the performance of 30 large U.S. companies. Inclusion generally requires an excellent reputation, sustained growth, and widespread interest among investors. To that end, the index is often seen as a collection of blue chip stocks.
The Dow Jones notched five consecutive weekly increases during November, its longest winning streak since late 2021. That trend is noteworthy because stock market momentum has a way of snowballing, but what truly matters is the driving force behind that momentum. In this case, a wave of positive economic data sent the Dow Jones higher last month.
The Federal Reserve has increased interest rates at their fastest pace in four decades to tame inflation. That aggressive monetary policy has kept investors on edge, as tightening credit conditions too far could tip the economy into a recession. But data published in November showed that inflation, wages, and jobs growth continued to slow in October.
Source Fool.com