DJI: Dow Jones Logs Fresh Record High at 37,557 as Investor Optimism Keeps On

Wall Street index is up 13% on the year while the S&P 500 is less than 1% away from a new record close.

• The Dow Jones Industrial Average DJI leaped into another record high. On Tuesday, the 30-stock index finished the session at the unseen level of 37,557 points. To impress further, the Dow notched its ninth straight day of gains as investor optimism showed no signs of stopping.
• Markets are still processing last week’s Federal Reserve event when Jerome Powell, chief of the central bank, kept rates flat and projected three rate cuts for 2024. The fairly quick shift from the previously communicated higher-for-longer rates narrative is now in full swing and cheered by investors.
• So cheered, the S&P 500 is on the doorstep to join the Dow in the land of records. The broad-based index is within 1% of setting a new all-time high following Tuesday’s gain of 0.6%. More green arrows are ahead with futures contracts pointing to a higher open for the stock averages on Wednesday.