Where The Booming Stock Market Goes From Here

Published August 3, 2017 at 10:00 AM CDT

Trader Peter Tuchman, center, wears a "Dow 22,000" hat as he works on the floor of the New York Stock Exchange, Wednesday, Aug. 2, 2017. (Richard Drew/AP)

The stock market is booming. We’ll look at the high, high Dow and the American economy behind it.

Nearly half of Americans have zero invested in the stock market. Zero. That’s important to remember. But for those who do – whether megabucks or a few bucks in a 401k, these are heady days. The Dow Jones index closed over 22,000 yesterday, a new record high in one of the longest bull markets ever. What now? Jeremy Siegel says Dow 30,000. Robert Shiller says watch out. They’re big and they’re with us. This hour On Point: the high, high Dow and the American economy behind it. — Tom Ashbrook

Guests

Steve Liesman, senior economics reporter for CNBC. ( @steveliesman)

Jeremy Siegel, professor of finance at the University of Pennsylvania’s Wharton School. ( @ProfessorSiegel)

Robert Shiller, Nobel Prize-winner and professor of economics at Yale University. ( @RobertJShiller)

From Tom’s Reading List

Wall Street Journal: Dow Tops 22000, Boosted by Apple — “A surge in Apple shares sent the Dow Jones Industrial Average past 22000 for the first time, but declines in other large U.S. technology companies pressured major indexes. The tug of war meant the milestone remained elusive: the index hopped above and below the mark multiple times during the session.”

CNBC: Economists say Trump might be boosting economic growth but overstates his role — “While most economists say President Donald Trump may be overstating his responsibility for recent better growth and jobs numbers, they say his policies may have had a limited positive influence in some areas. At the same time, they warn, there are ways the president might also be a drag on growth.”

CNN Money: What big fat bubble? Trump cheers as Dow hits 22,000 — “Almost exactly a year ago, Donald Trump dismissed the stock market’s rise under President Barack Obama as a ‘big bubble.’ Now President Trump is cheering as the Dow reaches 22,000 for the first time. A surge in Apple stock carried the Dow past the milestone Wednesday right after the opening bell.”