Dow Jones to Hit 28,000 Points in 2020

By Dale Gillham | Published 10 December 2019

In this week’s US Stock Market Report, Dale shares why the Dow Jones will hit 28,000 points in 2020, as well as how the US economy is performing.

Employment figures were up in November as 266,000 jobs were added across the board, which is 42 percent better than the expected increase of 187,000 jobs. While vehicle manufacturing and Health added the most jobs, it was pleasing to see that jobs were created across various industries.  

Unemployment fell to 3.5 percent in November, down from 3.6 percent in October and the jobless rate is now back at historically low levels, which have not seen since the 1960’s. What is even more interesting is that the average hourly earnings are up over 3 percent from a year ago. So, in addition to more Americans working, they are also now earning more.

The results from the Black Friday sales are in and according to the Washington Post there were 174 million Americans who shopped between Thanksgiving Day and Cyber Monday, spending on average $335 per person. Interestingly, the biggest spenders were millennial's aged 24 to 35, who paid out an average of $419.52 per person.

Forbes said around 58 million people only shopped online, while 51 million shopped exclusively in stores. The remaining 65 million consumers shopped both online and in store, meaning 116 million Americans left home to spend time and money in brick-and-mortar retailers.

Americans spent a record $5 billion in 24 hours. That marks a 16.9 percent increase spent online compared with the Black Friday sales in 2016 according to data from Adobe Digital Insights, which tracks 80 percent of online spending at America’s 100 largest retail websites.

It’s official, a Los Angeles jury found Tesla’s Elon Musk did not defame the British cave explorer Vernon Unsworth by calling him a “pedo guy” on Twitter. Unsworth was asking the Tesla CEO to pay at least $190 million in damages for his tweets about the diver.

This case now sets a precedent for this type of law suit against the rich and or famous. Interestingly, Tesla shares are up nearly 10 percent this calendar year and 50 percent since 1 July, which is a big turnaround for a company that has been plagued by rumors of production issues. Right now the future looks good for Tesla.

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