Fox’s Cavuto Reacts to the Dow Closing Above 40,000 for the First Time: ‘People Are Optimistic’

Fox News anchor Neil Cavuto reported on the Dow closing above 40,000 for the first time ever on Friday and voiced a note of optimism for the U.S. economy.

“Fox alert for you. No problems at the corner of Broad and Wall. And right at the very last second of trading, the Dow did move over 40,000, settling at around 40,003.59 with a gain of about 140, 134 points,” Cavuto reported, adding:

This is about a five-week winning streak. A lot of this buoyed by the fact that people are optimistic we are going to achieve a soft landing. The growth is slowing to the degree that the fed had some wiggle room here to cut rates. Now, whether that happens is anyone’s guess. But the fact of the matter is that the trend has been the market’s friend earnings coming in better than expected.

A lot of companies that are forecasting improving economic news as well. Now the bottom line here, in case you’re counting, in the last four years, the Dow has essentially doubled from 20,000 to about 40,000. And again, just since 2022, we’ve come storming back, to put on these extra 10,000 points. Now, a lot of that backdrop, again, is an improving, corporate structure. The inflation problem eased up. But again, optimism that rates could come down. Now there are some wrinkles here will be going into that this weekend. But for now all optimistic on the stock front.

The stock market has soared under President Joe Biden despite former President Donald Trump long declaring it would crash with the Democrat in office. Trump has also wildly claimed that the stock market is only doing well because he is leading in the polls.

Watch the clip above via Fox News.

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