Dow record 30K close signals recovering economy, low unemployment, high earnings ahead, expert says

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The Dow Jones Industrial Average's close above 30,000 for the first time in history underscores the underlying strength of the U.S. economy and hopes for a complete recovery from the ravages of the COVID-19 pandemic.

On Tuesday, the Dow rose more than 450 points Tuesday to close at 30,046.24, a record for the 30-stock blue chip index. The S&P 500, a broader gauge of the market, and the Nasdaq Composite also gained. Barring another shutdown as the number of new coronavirus infections increases as winter approaches, the market's rise signals good things ahead for the economy.

Golden Unicorns expected to go public soon include Airbnb, an online vacation rental company, DoorDash, an on demand prepared food delivery service, and ContextlLogic, an online service to help shoppers find competitive prices and share information with friends. The Dow closed within a few points of 30,000 in January before the shutdown intended to curb spread of the coronavirus pandemic pummeled the economy. Consumers started cutting back in March, forcing major retail chains into bankruptcy and throwing millions of people out of work. Unemployment peaked at 14.7% in April after dipping to a 50-year low of 3.5% before the pandemic.

 

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Only on paper thousands have lost jobs and income this is a farce not true,true for the rich.

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