Despite widespread predictions of economic turmoil, including a recession and surging unemployment, the U.S. economy has demonstrated remarkable strength.
In a stunning display of resilience, the Dow Jones Industrial Average recently surpassed the 40,000 milestone, a feat that seemed improbable just two years ago when the Federal Reserve began its aggressive campaign to raise interest rates. Despite widespread predictions of economic turmoil, including a recession and surging unemployment, the U.S. economy has demonstrated remarkable strength. Robust job growth, unwavering consumer spending, and moderating inflation have combined to fuel investor optimism and propel stocks to new heights.
The market’s exuberance has been further amplified by the tantalizing potential of generative AI, exemplified by OpenAI’s ChatGPT. The transformative promise of this technology has electrified investors, particularly in the tech sector. As a result, the Dow has surged nearly 40% from its September 2022 low when the current bull market began and has more than doubled since the pandemic-induced bottom of spring 2020.
