Record High Wednesday – Dow 30,000 in Sight
Dow 30,000.
Barron’s predicted this back in 2017, assuming the Trump tax cuts would boost Corporate Earnings and all went well with China Trade and nothing bad happened – Barron’s saw the possibility of the Dow hitting 30,000 by 2025. While that’s all very nice, I will point out that it’s only 2020 yet here we are already – the very definition of getting WAY ahead of ourselves.
What’s even more interesting is that we’re doing it with 10% unemployment and a virus ravaging our economy and GDP down about 10% for the year – this is some truly insane market action – we’re not taking reality into account at all….
Historically, the average Price/Earnings Ratio for the Dow Jones is about 16 times earnings.
IN PROGRESS
Provided courtesy of Phil’s Stock World.
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Source: https://www.philstockworld.com/2020/11/11/record-high-wednesday-dow-30000-in-sight/?utm_source=beforeitsnews&utm_medium=feed&utm_campaign=psw-feeds&utm_content=article-link
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