Hello Again - Today’s Consumer Price Index report (The CPI) came in better than expected. It suggested that inflation month to month was zero, and that year over year it was down to just 3.2%. The Fed’s target for inflation is 2%, so they are getting closer. Apparently this surprised a lot of people because the Dow Jones is up over 500 points today as investors all try to jump on the bus at once. My personal view, although challenged at times, has not changed. That is that the US stock market is still in a long-term bull market that started in 2009. I thought we would have made new all-time highs by now, but for various reasons it has not happened as of yet. Nonetheless, the Dow Jones Industrial Average (The Dow) is up some 2600 points in just the last 2 weeks, and is now only 2000 points away from the old highs made in January 2022. Let’s see what happens next! It’s an uncertain world, there is no question about that. And we must take steps to protect ourselves as it relates to our personal time horizon. But for now, the stock rally continues! Best Regards, Mike
Below: 14 Year Chart of the Dow Jones Industrial Average, A Leading Index of 30 Large US stocks |
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