![Dow 40,000](https://images.forexlive.com/images/Dow%2040%2C000_id_10a213a1-ccff-4467-9453-2a50b94f7d7b_original.jpg)
This book was published by David Elias in 1999 and he predicted the Dow Jones Industrial Average would "roar through the 40,000 level by the year 2016" (and specifically June 2, 2016). He was off by 50% on the timeline and the 2000-2009 period was a rough one, but he was on the right side of the market.
I almost never look at the Dow Jones Industrial Average because it's a relic that's price weighted and only contains 30 stocks.
Here are the 30 stocks in the DJIA:
- 3M Company (MMM)
- American Express (AXP)
- Amgen (AMGN)
- Apple (AAPL)
- Boeing (BA)
- Caterpillar (CAT)
- Chevron (CVX)
- Cisco Systems (CSCO)
- The Coca-Cola Company (KO)
- The Walt Disney Company (DIS)
- Dow Inc. (DOW)
- Goldman Sachs (GS)
- Home Depot (HD)
- Honeywell (HON)
- IBM (IBM)
- Intel (INTC)
- Johnson & Johnson (JNJ)
- JPMorgan Chase (JPM)
- McDonald's (MCD)
- Merck & Co. (MRK)
- Microsoft (MSFT)
- Nike (NKE)
- Procter & Gamble (PG)
- Salesforce (CRM)
- The Travelers Companies (TRV)
- UnitedHealth Group (UNH)
- Verizon Communications (VZ)
- Visa (V)
- Walmart (WMT)
- The Home Depot (HD)
Notably missing are many of the megacap tech stocks including Nvidia and Alphabet.
Where there could be some impact here is on main street. Newspaper headlines tomorrow will highlight the new high and that could draw more money and enthusiasm into the market. The President will no-doubt try to make something of it as well.
In the bigger picture, the lesson is that it's tough to bet against stocks.
![Dow Jones Industrial Average 40K](https://images.forexlive.com/images/Dow%20Jones%20Industrial%20Average%2040K_id_0b8e7a11-8a2d-42fa-912f-a504078fd80a_original.jpg)
The index first crossed 30,000 back in November 2020 after first breaking 20,000 in 2016.