The Dow Jones climbed to a record milestone today, making its way to 30,000 for the first time ever. This after a rough year that saw many days of below average numbers and sharp, record falls. But it seems that the market is finding a way to rally once again. In fact, it’s rallying better than it ever has before to get out of this slump.
Many things are being targeted as the reason for this sudden climb, with the expectation of economic recovery and the latest vaccine news being two of the biggest parts to the puzzle. It seems that the market is starting to rebound as it looks to the future and the potential for the financial world that we now find ourselves in.
With the expectation that the virus is soon to be a part of our past, there’s much for the market to rally around and to continue improving along the way. While some stocks have weathered the storm well, others have not done as well. And now, it seems that things are starting to reverse as some of the stocks that truly thrived during the pandemic are now struggling to see the same level of success as fears start to die down.
But the Dow Jones is seeing the best of both worlds in this power struggle and seems to still be making its way in the right direction with stocks like JPMorgan Chase and Chevron helping to lead the way. These companies and others have been able to rally with the latest vaccine news while others have been able to thrive even in the midst of the strictest lockdowns. It looks like there could be even more good news on the horizon.
AstraZeneca has done well, amid news that their vaccine is also highly effective. Combined with news from Pfizer and BioNTech, as well as Moderna, this vaccine news is helping to heighten many stocks that saw a decline in sales over the beginning and middle parts of the year. There’s no telling what could be the next step for the Dow Jones or any of the other stock markets as the future seems unclear.
Even with a vaccine it’s estimated that it could be months if not a year before everyone is able to get vaccinated, and that could mean even more uncertainty for the stock market and the economy at large.