Exuberance sees Dow pass 40k mark
The US economy is losing some momentum says JBWere’s Sally Auld, whilst equities are expensive, as the Dow passes 40k.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Friday 17th May 2024
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Even though equities fell form their record highs of yesterday, that wasn’t until after the Dow passed the 40k mark for the first time ever. JBWere’s Sally Auld is surprised at the confidence in US equity markets, particularly as data is showing more signs of softness and Fed speakers continue to talk about waiting longer for cuts. JPMorgan’s James Dimon also expressed concerns about the inflationary impact of the rising US deficit. There’s also discussion about yesterday’s Australian employment numbers, which saw the unemployment rate rise more than expected.
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