Dow Jones hits fresh all-time high on earnings

The Dow Jones Industrial Average (DJIA) surged to a new all-time high on Monday, surpassing 43,000 and extending its winning streak to five consecutive weeks. Investors are eagerly anticipating the upcoming earnings season and a busy week of economic data, including key US Retail Sales figures.

JPMorgan Chase and Wells Fargo kicked off earnings season with strong results, and markets are optimistic about the prospects for the rest of the banking sector. Bank of America, Goldman Sachs, and Johnson & Johnson will report earnings this week, followed by Morgan Stanley, United Airlines, Walgreens Boots Alliance, Netflix, and Procter & Gamble.

Despite the overall uptrend, the Dow Jones was mixed on Monday, with about half of its components trading lower. Caterpillar declined nearly 2%, while Travelers Companies, Unitedhealth Group, and McDonald’s gained over 1.5%.

The Dow Jones is approaching the 44,000 psychological level, having broken through several key resistance levels in recent weeks. The index has gained nearly 8% since its September low and remains well above its 50-day and 200-day Exponential Moving Averages.