So the market hit a new high, with the Dow Jones Industrial Average rising last week past 30,000. For the record, this was the highest level ever reached by the Dow, which also closed November posting the biggest monthly gain since 1987.
While the milestone is newsworthy, what’s really important is how it got there. Unlike most of the momentum driving market gains, fueled primarily from technology companies, this record was reached in part from a rally in lagging cyclicals like Boeing and Honeywell. It remains to be seen if cyclicals- or perhaps other market sectors- will power more of a prolonged market rise~
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