Hassett, who served as a senior economic adviser to President Donald Trump, doesn’t see the book as a forecasting miss. “In fact, 2021 is the only year in history to hit six separate 1,000 milestone levels.” “This is yet another reminder for investors how far we’ve come the past 20 months,” said Ryan Detrick, chief market strategist for LPL Financial. The Dow passed the 35,000 mark for the first time in July. On Tuesday, the Dow closed above 36,000 for the first time ever, propelled by unprecedented levels of government and central bank stimulus and enthusiasm about corporate earnings. The comeback in 20 was cut off by the global financial crisis and Great Recession.īut the rally in the wake of the Covid-19 pandemic has finally delivered. The dot-com bubble popped, sending markets into a tailspin. That prediction in their book, “Dow 36,000: The New Strategy for Profiting From the Coming Rise in the Stock Market” did not come true.
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