The stunning rally in the US stock market has been supported by powerful tailwinds. Nevertheless, the market is hit by occasional sell-offs that could foreshadow troubles to come. So, analysts are trying to figure out whether the Dow Jones Industrial Average will be able to conquer another peak. In May, the US benchmark index of blue-chip stocks smashed through the milestone 34,000 points. Apparently, the Dow is on track to fresh highs. 

In November 2020, the index surpassed an all-time high of 30,000 which seemed to be the ceiling at that time. Now most analysts share the viewpoint that the Dow Jones has enough momentum to extend its rally. Stoсk investors consider the US bond market to be a precursor of further moves in the stock market. Meanwhile, the curve of Treasury yields is not flashing any warning signs. Thus, quiet bond trading ensures a steady bullish trend of the stocks. Another catalyst for a robust rally is the fact that EU authorities are lifting lockdown measures and reopening economies so that an economic recovery is in the cards.   

Besides, the US stock market is benefitting from the bullish outlook for the global economy and political stability in the US. Last but not least, those who are betting on a further climb of the Dow Jones point out that a progress in mass vaccination is another tailwind to encourage a rally in the US stocks, including the blue-chip ones.