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The Dow just crossed 40,000 for the first time. The number is big but means little for your 401(k)

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The Dow just crossed 40,000 for the first time. The number is big but means little for your 401(k)

NEW YORK (AP) — The Dow Jones Industrial Average just topped 40,000 for the first time, the latest pop in what’s been a surprisingly good year for Wall Street.

But just like New Year’s represents an arbitrary point in time in the Earth’s revolution around the sun, such milestones for the Dow don’t mean that much inherently.

For one, with just 30 companies, the Dow represents a tiny slice of Corporate America. For another, almost no one’s 401(k) account sees its performance depend on the Dow, which has become more of a relic used for historical comparisons.

Here’s a look at what the Dow is, how it got here and how its use among investors is on the wane:

WHAT IS THE DOW?

It’s a measure of 30 established, well-known companies. These stocks are sometimes known as “blue chips,” which are supposed to be on the steadier and safer side of Wall Street.

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WHAT’S IN THE DOW?

Not just industrial companies like Caterpillar and Honeywell, despite the name.

The roster has changed many times since the Dow began in 1896 as the U.S. economy has transformed. Out, for example, was Standard Rope & Twine, and in recently have been big technology companies.

Apple, Intel and Microsoft are some of the newer-economy names currently in the Dow. The financial industry also has a healthy representation with American Express, Goldman Sachs, JPMorgan Chase and Travelers. So does health care with Amgen, Johnson & Johnson, Merck and UnitedHealth Group.

WHAT’S ALL THE HUBBUB NOW?

The Dow just crossed its latest 10,000 point threshold to top 40,000 briefly in midday trading on Thursday. It took about three and a half years to make the leap from 30,000 points, which it first crossed in November 2020.

It’s kept chugging mostly higher despite the worst inflation in decades, painfully high interest rates meant to get inflation under control and worries that high rates would make a recession inevitable for the U.S. economy.

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Companies are now in the midst of reporting their best profit growth in nearly two years, and the economy has managed to avoid a recession, at least so far.

IS THE DOW THE MAIN MEASURE OF WALL STREET?

No. The Dow represents only a narrow slice of the economy. Professional investors tend to look at broader measures of the market, such as the S&P 500 index, which has nearly 17 times the number of companies within it.

More than $11.2 trillion in investments were benchmarked to the S&P 500 at the end of 2019, according to estimates from S&P Dow Jones Indices. That’s 350 times more than the $32 billion benchmarked to the Dow Jones Industrial Average.

Investors’ 401(k) accounts are much more likely to include an S&P 500 index fund than anything tied to the Dow. The S&P 500 crossed above its own milestone Wednesday, topping 5,300 points for the first time.

That’s what more investors care about. Well, 100-point milestones matter for the S&P 500 as little as others, but the fact that the S&P 500 is higher than ever matters a lot.

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HOW DIFFERENT ARE THE DOW AND THE S&P 500?

Their performances have historically tracked relatively closely with each other, but the S&P 500 has been better recently. Its 29.3% rise for the last 12 months easily tops the 21.1% gain for the Dow.

That’s in part because the S&P 500 has more of an emphasis on Big Tech stocks, which were responsible for most of the S&P 500’s gains last year. Hopes for an easing of interest rates by the Federal Reserve and a frenzy around artificial-intelligence technology have pushed them to dizzying heights.

The Dow reflects none of the movements of such marquee stocks as Alphabet, Meta Platforms or Nvidia.

IS THAT IT?

No, the Dow and S&P 500 also take different approaches to measuring how an index should move.

The Dow gives more weight to stocks with higher price tags. That means stocks that add or subtract more dollars to their stock price push and pull it the most, such as UnitedHealth Group and its $523 stock price. A 1% move for that stock, which is about $5, packs a radically harder punch than a 1% move for Walmart, which is about 63 cents

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The S&P 500, meanwhile, gives more weight to stocks depending on their overall size. That means a 1% move for Walmart carries more weight than a 1% move for UnitedHealth Group because Walmart is a slightly bigger company by total market value.

SO WHY CARE ABOUT THE DOW?

Because it’s so old, it has a longer track record than other measures of the market.

For a while, a triple-digit move for the Dow also offered an easy shorthand way to show the stock market was having a big day. Now, though, it means much less. A 100 point swing for the Dow means a move of less than 0.3%.

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Emma Thompson’s ‘Down Cemetery Road’ Renewed for Season 2 at Apple TV

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Emma Thompson’s ‘Down Cemetery Road’ Renewed for Season 2 at Apple TV

“Down Cemetery Road,” the Apple TV thriller series starring Emma Thompson and Ruth Wilson, has been renewed for a second season.

The news comes on the heels of the show’s Season 1 finale, which aired on Wednesday. Season 2 will “reunite Zoë Boehm (Thompson) and Sarah Trafford (Wilson) chasing down another twisted mystery,” according to a provided synopsis. “After a woman falls in front of a train Zoë is called in to investigate, but this seemingly simple case soon upends her life as she and Sarah find themselves navigating the glamorous but ruthless world of black market antiquities. Matters take a deadly turn when they stumble into the path of a brutal serial killer who will stop at nothing to cover up his crimes.”

Thompson also executive produces “Down Cemetery Road” alongside writer Morwenna Banks; Jamie Laurenson, Hakan Kousetta and Tom Nash at 60Forty Films; and Mick Herron, the author of the 2003 novel the show is based on. Börkur Sigþórssen (“Insomnia”) will serve as lead director for the second season.

“I’m so thrilled that ‘Down Cemetery Road’ has been enjoyed enough to warrant a second season,” Thompson said in a statement. “The thought of working with the team again, with wonderful Morwenna Banks in the writer’s seat and the indomitable Ruth Wilson who is the best and most brilliant co-star any aging Dame could desire, is frankly far more than I feel I deserve. Zoë Boehm is a punkishly delicious avatar and I can’t wait to pull on her knock-off Doc Martens again. Thanks to everyone who watched! We are go for the next one and it’s all down to you.”

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Added Jay Hunt, creative director, Europe at Apple TV: “Audiences around the world fell in love with ‘Down Cemetery Road’ and I am glad the unlikely duo of Zoë and Sarah will be back with their unique form of acerbic wit.”

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Israeli official issues stark warning after chilling Syrian military war chants surface

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Israeli official issues stark warning after chilling Syrian military war chants surface

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A group of soldiers of the Syrian army was documented chanting a jihadi declaration of war on Israel during a military parade in Damascus on Tuesday, prompting a minister for the Jewish state to issue a chilling prediction.

Amichai Chikli, Israel’s minister of Diaspora Affairs, posted on X, “War is inevitable.” Chikli embedded a video from Visegrád 24 that showed Syria’s new army marching through Damascus. Syrian President Ahmed al-Sharaa attended the military parade.

The footage, according to Fox News Digital’s independent verification of the Arabic, showed them chanting “Gaza, Gaza, our rallying cry, Victory and steadfastness, night & day. We rise against you, enemy, we rise. From mountains of fire we make our way. From my blood I forge my ammunition. From your blood, rivers will flow.”

SYRIA’S NEW PRESIDENT TAKES CENTER STAGE AT UNGA AS CONCERNS LINGER OVER TERRORIST PAST  

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Military personnel perform during a military parade, as Syrians mark the first anniversary of Bashar al-Assad’s fall, in Damascus, Syria, Dec. 8, 2025. (Khalil Ashawi/Retuers)

In a statement to Fox News Digital about his posts on X, Chikli said, “The harrowing testimonies coming from our Druze brothers about what is happening in Sweida leave no doubt. A regime that kills like ISIS, rapes like ISIS, and destroys like ISIS everything that is not itself — it is ISIS, even if it wears a suit and plays basketball.”

The Trump administration is pushing for a security deal between Syria and Israel that would stabilize the heartland of the Middle East. Al-Sharaa met with Trump in the White House last month.

Speaking at a Jerusalem Post conference on Wednesday in Washington, D.C., Tom Barrack, who is U.S. ambassador to Turkey and special envoy to Syria, said Damascus is not interested in aggression toward Israel, according to the newspaper.

TRUMP TEASES ‘LOADING UP’ ABRAHAM ACCORDS WITH NEW NATIONS AFTER MIDDLE EAST SHAKEUP

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Syria’s President Ahmed al-Sharaa delivers a speech on the first anniversary of Bashar al-Assad’s fall, in Damascus, Syria Dec. 8, 2025. (Khalil Ashawi/Reuters)

“Syria joining the anti-ISIS coalition was unthinkable not long ago.” Barrack said the U.S. and Syria have eliminated nine Hezbollah cells and several Islamic State cells over the past few weeks. “After Oct. 7, Israel doesn’t trust anyone,” he said at the event, adding “That’s why we’ve offered to serve as a peacekeeping force. Verification replaces trust.”  

Barrack claimed Jerusalem sees Syria as “the softest play” in the complex Mideast security situation. “Syria has no alternative path,” he said. “And neither does Israel, if it wants to avoid perpetual military confrontation on every border.” He said the Abraham Accords, which normalized diplomatic relations between moderate Sunni states United Arab Emirates, Bahrain, Morocco and Israel, could be expanded to Syria.

U.S. Ambassador to Turkey and Special Envoy to Syria Tom Barrack, speaks during a press conference after his meeting with Lebanese President Joseph Aoun at the presidential palace, in Baabda, east of Beirut, Lebanon, Monday, Aug. 18, 2025. (AP Photo/Hussein Malla)

The Associated Press reported that al-Sharaa said at a conference over the weekend in Qatar that “There are currently negotiations, and the United States is participating and engaged in those negotiations.”

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The Syrian president wants Israel to withdraw its forces from Syria and recommit to a 1974 truce agreement.

ISRAEL RELEASES BODY-CAM VIDEO OF DEADLY SYRIA RAID TARGETING MUSLIM BROTHERHOOD-AFFILIATED TERRORISTS

Israeli forces secure the area around Beit Jann after detaining two suspects and coming under fire in one of the most serious clashes on the Syrian front this year. (IDF)

Israel says it seized the 400-square-kilometer (155-square-mile) demilitarized buffer zone in southern Syria in a preemptive move to prevent militants from moving into the area after Islamist insurgents toppled Assad.

Israeli troops have regularly carried out operations in villages and towns inside and outside the zone, including raids snatching people it says are suspected militants. At least 13 people were killed in an Israeli operation against suspected terrorists last month.

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When questioned about his record as an al Qaeda member (the U.S. scrapped its $10 million bounty for al-Sharaa’s arrest for terrorism last year) at the Doha Forum in Qatar, the Syrian president said: “What is the definition of terrorism or a terrorist? Saying that I was a terrorist and judging me as a terrorist is politicized… we saw wars in Afghanistan, in Iraq — all of those that were killed were innocent.”

TRUMP TO SIGN ORDER LIFTING SANCTIONS ON SYRIA

He added that “Judging people as terrorists needs to be proven. There’s been 25 years of us hearing this word in the world, but there’s a lot of confusion in understanding the word ‘terrorist.’ Terrorists, in my opinion, are those who kill innocent people — children and women — and who use illegitimate means to harm people.” He noted that he fought “honorably.”

Dan Diker, president of the Jerusalem Center for Security and Foreign Affairs, told Fox News Digital, “The ongoing security situation in Syria is of the utmost complexity. Israel and Syria, under U.S. mediation, are in highly intensive talks to reach a formal security arrangement between the two countries, while the Iranian regime and its proxies are engaging in armed subversion to prevent any possible agreement between the sides. The United States, CIA and military forces are reportedly deeply involved in securing and stabilizing the situation in Syria, which accounts for President Trump’s recent statements to Israel in helping maintain the framework in Syria.”

He added, “It must be emphasized that Iran’s Hezbollah proxy and associated cells and groups are doing everything to torpedo a security arrangement between the al-Sharaa government and the Israeli government. The Iranian regime and associated terror groups tried to assassinate al-Sharaa several times. They are mobilizing terror cells in southern Syria and sending them toward the Israeli border, which is what has triggered ongoing Israeli counterterrorism strikes, just like we saw in Bet Jinn.”

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An Israeli army Merkava main battle tank crosses the barbed-wire fence into the U.N.-patrolled buffer zone separating Israeli and Syrian forces in the Golan Heights near the U.N. Quneitra checkpoint on March 2, 2025. ( Jalaa Marey/AFP via Getty Images)

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Israeli Prime Minister Benjamin Netanyahu recently visited reserve soldiers who were wounded in clashes with Syrian terrorists in Bet Jinn, where he said, “After Oct. 7, we are determined to defend our communities on our borders, including the northern border, and to prevent the entrenchment of terrorists and hostile actions against us, to protect our Druze allies, and to ensure that the State of Israel is safe from ground attack and other attacks from the border areas.”

He added, “What we expect Syria to do, of course, is to establish a demilitarized buffer zone from Damascus to the buffer zone area, including the approaches to Mount Hermon and the summit of Mount Hermon. We hold these territories to ensure the security of the citizens of Israel, and that is what obligates us. In a good spirit and understanding of these principles, it is also possible to reach an agreement with the Syrians, but we will stand by our principles in any case.”

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Israel bombards areas across southern Lebanon in latest truce violation

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Israel bombards areas across southern Lebanon in latest truce violation

Strikes hit hills and valleys as Israeli military keeps up pressure, it says, to force Hezbollah to disarm.

Israeli warplanes have carried out at least a dozen attacks across southern Lebanon, targeting what the military claims are Hezbollah training facilities in the latest flagrant near-daily violations that have further undermined a year-old ceasefire.

The raids hit hills and valleys in the Jezzine and Zahrani areas, including locations near al-Aaichiyeh, between al-Zrariyeh and Ansar, and around Jabal al-Rafie and the outskirts of several towns, according to Lebanon’s state news agency.

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Israel’s military said it struck a compound used by Hezbollah’s elite Radwan Force for weapons training, claiming the facilities were being used to plan attacks against Israeli forces and civilians.

Al Jazeera’s Zeina Khodr, reporting from Beirut described the ceasefire in Lebanon as “a one-sided truce, since Israel has continued near-daily attacks on the country.”

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Khodr said the latest attacks avoided densely populated areas. “The locations were in hills and valleys, not population centres,” she said, noting this marked a repeated pattern.

“In fact, just a few days ago, in the middle of the night, they did the same thing.”

The Israeli military said it also hit what it said were rocket-launching sites and other infrastructure, describing the operations as necessary to counter what it deemed violations of understandings between Israel and Lebanon.

However, the continued bombardment has drawn sharp criticism from the United Nations, which reported in November that at least 127 civilians, including children, have been killed in Lebanon since the ceasefire took effect in late 2024. UN officials have warned the attacks amount to “war crimes”.

Khodr explained that the attacks form part of a sustained military pressure campaign.

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“This is all part of military pressure on Hezbollah to force it to disarm,” she said. Israel wants the group “to give up its strategic weapons, its long-range weapons, its precision-guided missiles, its drones” which the Israeli military believes are stored in the Bekaa Valley and further inland.

But Hezbollah has sharply refused to relinquish its arsenal as long as Israel bombards and occupies parts of Lebanon. The group “doesn’t want to give up its weapons because it would view that as surrender”, Khodr added, noting that “Hezbollah and Lebanon do not have the upper hand. Israel enjoys air superiority.”

Tensions escalated further two weeks ago when Israel bombed Beirut’s southern suburbs, killing Hezbollah’s top military commander, Haytham Ali Tabatabai. The group has yet to respond, but said it will do so at the right time.

The attacks come as Lebanon and Israel recently dispatched civilian envoys to a committee monitoring their ceasefire for the first time in decades, a move aimed at expanding diplomatic engagement.

However, Hezbollah leader Naim Qassem criticised Lebanon’s decision to send former Ambassador Simon Karam to the talks, calling it a “free concession” to Israel.

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Lebanese officials have expressed frustration over Israel’s near-daily attacks.

“It is one of the reasons why Lebanon agreed to sit down for face-to-face talks with the Israelis,” Khodr said, “engaging in diplomatic talks that are seen as very sensitive in Lebanon, in the hopes that it would avoid war.”

President Joseph Aoun said last week that Lebanon “has adopted the option of negotiations with Israel” aimed at stopping the continued attacks, while Prime Minister Nawaf Salam called for a more robust verification mechanism to monitor both Israeli violations and Lebanese army efforts to dismantle Hezbollah infrastructure.

“But the US ambassador to Lebanon, Michel Issa, made it clear a few days ago that even though Lebanon is sitting down in a room with a longtime enemy, it does not mean that the Israeli attacks will stop,” Khodr said.

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