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Transcript

We've been keeping an eye on the Dow Jones Industrial Average. It has briefly touched what is a milestone 40,000 mark traders. It seemed optimistic that the Fed is headed for a rate cut later this year after a better than expected inflation report out of the United States. Matt Egan is back with his math. They pushed and they pushed and they blew that number down, as it were. They did, Becky finally moving decisively past the 40,000 level. This is a major market milestone. I mean, the Dow is arguably the best known market indicator on the planet and it just did something it's never done before. This does reflect optimism about the US economy, optimism about inflation, about interest rates. And so this is good news. You'll have some people point out that stock market is mostly owned by the more affluent. Households. And that is true. But more than half of US households, they do own stocks in some way, either directly or in their 401K or retirement accounts. So really this is something that benefits many people. And there are political implications too, right? Because actually, within just about 5 minutes of the Dow hitting 40,000, the Biden campaign sent out an e-mail, an e-mail blast celebrating this milestone saying that under Joe Biden, Dow crosses 40, 000 mark market set record. Eyes and pointing out that years ago Donald Trump warned that the market would crash if Joe Biden became president. So you'll see some more talking points from the Trump and Biden campaigns as the markets hit a major milestone here. Yeah. And and it could have been so different, So interesting times for us. Thank you, Matt. Thanks, Becky.