(AURN News) — The Dow Jones Industrial Average reached a major milestone Wednesday, giving stocks a strong start to July.
A new intraday record was set after the Dow climbed to 52,742.66.
The Dow has come a long way since its previous record highs. In December 2023, the index reached 37,710.10 as cooling inflation and the anticipation of interest rate cuts helped fuel the rally.
Last year, the Dow recorded 48 record closes. Its record high in 2024 was about 45,000.
So the big question surrounding this week’s record-breaking high is: Why?
New Federal Reserve Chair Kevin Warsh claimed inflation risks have eased. Investors also continue to watch crude oil prices, which have moved even lower in recent days.
It is also important to note that while the Dow reached another milestone, the Nasdaq remained down for much of Tuesday and did not set a record high.
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