May Market Compass 2024: Dow tops 40,000: Room to climb or nearing its peak?

In May, markets reached another milestone as the Dow Jones Industrial Average crossed 40,000 points for the first time.
While 40,000 is an arbitrary number and simply a psychological threshold, it is symbolic of the market’s resilience in the face of high interest rates. In our latest Market Compass, we discuss whether the fundamental conditions support the move higher in stocks. Can the rally continue, or will it fizzle out?