• The Dow Jones will close north of 44,000 for the first time in history as bulls continue to rise.
• After Trump’s decisive victory in the election, stock markets completely tilted towards the buyers.
• The publication of CPI inflation in the US will be released in mid-week, when markets will expect further cuts in Fed interest rates.

The Dow Jones Industrial Average (DJIA) rose another more than 300 points on Monday, with stocks rising in an extension of the bull run that began after Trump’s victory in the polls last week. Markets are deceptively skinny on Monday, with most U.S. markets closed for Veterans Day. Yet bidders nonetheless continue to push the Dow to record highs.

Last week, presidential candidate Donald Trump won a surprise victory in the last US presidential election and another interest rate cut by the Federal Reserve (Fed). Investors see that everything is heading in the right direction, with US employment data continuing to exceed expectations and dispel previous concerns about a demanding economic landing scenario.

Later this week there will be a recent update on US inflation data – the Consumer Price Index (CPI). The headline CPI in October is expected to accelerate to 2.6% y/y from 2.4% in the previous period, and the core CPI in the same period is expected to remain stable at 3.3% y/y. Thursday will follow business-level inflation in the US Producer Price Index (PPI), which is also expected to rise to 2.9% y/y in October from 2.8%.

Fed Chairman Jerome Powell will also appear on Thursday, where the Fed chief will participate in a panel discussion hosted by Fed Bank of Dallas. Audience questions are expected to run the gamut trying to find a clue about the Fed’s plans to cut interest rates again in December. Investors should also expect a series of familiar questions about Chairman Powell’s intention to “step down” as Fed chairman if recent President-elect Donald Trump requests it, and the president’s office has no power or authority to request it.

Dow Jones News

Don’t tell Dow Jones that Monday is a holiday; two-thirds of the securities listed in the index are moving towards the green to start the recent trading week. Salesforce ( CRM ) rose more than 5.5% to $340 a share as AI offerings continue to flow into consumer technology companies, despite a clear path forward on when and how large-scale data models will generate a surplus of revenues. Honeywell International also rose 2% to $224 per share, hitting a two-year high.

Dow Jones Price Forecast

The Dow Jones Index is firmly back on an upward trajectory, hitting recent record highs and closing in on the 44,000 level on Monday. The major stock index is now up nearly 20% from the bottom to the top in 2024 and is up as much as 47% since price last touched the 200-day exponential moving average (EMA) near 30,000 in October 2022.

Traders interested in trying to take a brief position have a task ahead of them; The Dow is on track to close at a record high for the fifth month in a row, leaving a complete lack of technical entry points on the table. Long interest traders may want to give up some bets when the Dow hits 45,000 for the first time, as massive, round numbers tend to cause some congestion.

Dow Jones daily chart