DJIA rose by 10% in the first 8 months of this year.
The economy is growing at a very healthy rate of 3.1% over the last 4 quarters; in fact the economy has shown an average growth rate of 2.7% over the previous 4 quarters since the beginning of 2023, resulting in a $1.7 trillion increase in personal disposable income, that is income after tax. We have, of course, spent 9 out of every $10 increase in our income! And these expenditures have increased business earnings, improving the conditions for stock prices to rise.
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(Original air-date: 8/30/24)
