{"id":37780,"date":"2023-07-19T13:34:34","date_gmt":"2023-07-19T17:34:34","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/dow-poised-for-longest-winning-streak-since-2019-up-4-over-8-days\/"},"modified":"2023-07-19T13:34:36","modified_gmt":"2023-07-19T17:34:36","slug":"dow-poised-for-longest-winning-streak-since-2019-up-4-over-8-days","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=37780","title":{"rendered":"Dow Poised For Longest Winning Streak Since 2019\u2014Up 4% Over 8 Days"},"content":{"rendered":"<div>\n<h2 class=\"topline-heading\">Topline<\/h2>\n<p>The Dow Jones Industrial Average rose for the eighth consecutive trading session Wednesday, as the blue-chip index appears on its way to its longest winning streak in four years, with good vibes aplenty on Wall Street as earnings season gets off to a strong start and concerns about a more aggressive than expected Federal Reserve subside.<\/p>\n<h2>Key Facts<\/h2>\n<div class=\"key-facts\">\n<div class=\"key-facts-element\">\n<p>Following a 170-point, or 0.5%, rally by early afternoon, the Dow is on pace to gain for eight straight days for the first time since September 4-13, 2019.<\/p>\n<\/p><\/div>\n<div class=\"key-facts-element\">\n<p>The Dow has jumped 4.1% during the historic stretch beginning last Monday, which is actually just the 78th-best eight-day period since the beginning of 2019.<\/p>\n<\/p><\/div>\n<div class=\"key-facts-element\">\n<p>The steady, modest gains speak to a broad sense of faith in equities and a sharp decline in fluctuation for stock prices which became customary in recent years.<\/p>\n<\/p><\/div>\n<div class=\"key-facts-element\">\n<p>Considered the stock market\u2019s \u201cfear gauge,\u201d the CBOE Volatility Index (VIX) is down more than 40% this year to its lowest level since early 2020.<\/p>\n<p><fbs-ad position=\"inread\" progressive=\"\" ad-id=\"article-0-inread\" aria-hidden=\"true\" role=\"presentation\"><\/fbs-ad>\n <\/div>\n<div class=\"key-facts-element\">\n<p>A Bank of America survey of large fund managers released Wednesday revealed institutional investor respondents are the most bullish on corporate profit outlooks they\u2019ve been since last February.<\/p>\n<\/p><\/div>\n<\/div>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">Key Background<\/h2>\n<p>The S&amp;P 500 and tech-heavy Nasdaq are up 4% and T5% since last Monday, respectively. More than three-quarters of stocks listed on the S&amp;P are up over the stretch, according to FactSet data. Financial services companies like KeyCorp and Charles Schwab, up more than 13% apiece, are the six best performers on the S&amp;P during the stretch as banks reported earnings which largely exceeded expectations over the last week.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">Surprising Fact<\/h2>\n<p>The proportion of non-institutional investors held in stocks rose to a 13-month high last month, according to the American Association of Individual Investors.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">What To Watch For<\/h2>\n<p>The Dow\u2019s longest-ever winning streak came in January 1987, when the index rose 13 straight days a few months before the most significant crash since the Great Depression. The Dow, which consists of 30 of the most valuable American public companies, will need to navigate a busy earnings season for its constituents, with Travelers, IBM, Johnson &amp; Johnson and American Express set to report quarterly results this week.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\"><\/h2>\n<p>Big Banks Beat On Earnings As Higher Interest Payments Roll In (<em>Forbes<\/em>)<\/p>\n<p>\u2018Crazy Times\u2019: Elon Musk Reacts To Tech Stocks\u2019 Latest AI Surge (<em>Forbes<\/em>)<\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.forbes.com\/sites\/dereksaul\/2023\/07\/19\/dow-poised-for-longest-winning-streak-since-2019-up-4-over-8-days\/\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Topline The Dow Jones Industrial Average rose for the eighth consecutive trading session Wednesday, as the blue-chip index appears on its way to its longest winning streak in four years, with good vibes aplenty on Wall Street as earnings season gets off to a strong start and concerns about a more aggressive than expected Federal [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":37781,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-37780","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Dow Poised For Longest Winning Streak Since 2019\u2014Up 4% Over 8 Days | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Topline The Dow Jones Industrial Average rose for the eighth consecutive trading session Wednesday, as the blue-chip index appears on its way to its\" \/>\n<meta name=\"robots\" content=\"index, follow, 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