Dow Jones hits 30000

Dow Jones Industrial Average hit 30000 points for the first time and its on a pace to close above this mark. It continues its 8 months gain and is up 60% since lowest point in March. The reasons behind it are low interest rates which kept cheap cash for companies, covid stimulus packages and change in behavior of investors who saw oportunity to buy on dip instead of selling and hoarding the cash or US T-Bonds. This made a quick path to recovery and earnings for 3q are supporting this behavior as most of the companies posted good numbers and some sectors had record earnings. (Otani, Wall Street Journal)

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