The Dow Jones Industrial Average is on the verge of hitting a major milestone, with the 30-stock average inching closer to the 40,000 mark. This surge comes as the Federal Reserve signals expectations for three rate cuts in 2024, providing a boost to the stock market. Despite a slight dip on Friday, the Dow remains within striking distance of the key level.
In a recent analysis by CNBC Pro, several stocks were identified as potential leaders to propel the Dow to 40,000 and beyond. Using the CNBC Pro Stock Screener tool, stocks with average analyst price targets suggesting 10% or more upside over the next year were highlighted.
Apple, despite recent challenges like a 4% drop following an antitrust lawsuit, remains a top contender. Analysts have expressed confidence in the company’s future prospects, particularly in artificial intelligence efforts. Boeing, another stock on the list, has faced setbacks in 2024 but still maintains strong buy ratings from analysts.
Other potential Dow leaders include recent addition Amazon and oil giant Chevron. These companies, along with Apple and Boeing, could play a crucial role in driving the benchmark to new heights.
As investors look ahead to the potential of the Dow reaching 40,000, the market remains optimistic about the future prospects of these key stocks. With continued support from analysts and potential growth opportunities, these companies could help pave the way for the Dow’s historic milestone.
Source link
