The Dow Jones Industrial Average index has gained 3.2% this month, outperforming the S&P 500 and Nasdaq Composite.
The Dow’s gains suggest that investors are starting to buy more economically sensitive stocks as recent data show inflation slowing.
That, in turn, indicates they’re becoming increasingly optimistic that the economy could avoid a recession.
Conventional Wall Street wisdom says gains in the blue-chip index tend to precede rallies across the broader market.
The Dow Jones Transport Average Index, an index of 20 stocks including railroad, trucker, airline and freight companies, has gained 24% this year.
Persons:
”, Adam Phillips, That’s, Bryan Mena, Read, Matt Egan, “, Patrick De Haan
Organizations:
CNN Business, Bell, New York CNN, Dow Jones, Nasdaq, Big Tech, Wealth, Federal Reserve, Union Pacific Corporation, Ryder System, Dominion Freight Line, Fed, New, American Automobile Association
Locations:
New York, Russia, Ukraine