Investors are currently striking gold in nearly every market amidst an almost picture-perfect investing environment that boasts resilient corporate profits, low unemployment, and easing inflation, write Gregory Zuckerman and Gunjan Banerji for The Wall Street Journal.

Last Thursday, the Dow Jones Industrial Average managed to cross the 40000 mark for the first time. Almost everything is currently rising, from established Dow stocks and faster-growing tech shares to bitcoin and other cryptocurrencies. Even gold and other precious metals are going up.

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Risk-averse investors also have plenty of options to choose from, such as certificates of deposit that offer yields of around five percent and rising junk bonds and similar fixed-income investments.

According to Ben Inker, co-head of asset allocation at investment firm GMO, while growth stocks remain expensive, the rest of the market is not. He added that the overall investing environment has rarely been this good in 24 years.

The surge in market indexes happened in two stages. Markets rallied last year on expectations that the Federal Reserve would cut interest rates following falling inflation.

More recently, robust earnings and advances in artificial intelligence have resulted in more confidence in the markets, as being able to quickly create and analyze huge data sets could result in a range of innovations and improvements.

Additionally, the new class of obesity drugs is creating possibilities for new health benefits for Americans that could eventually end up cutting overall healthcare expenditures.

Some are also looking at the potential gains from efforts to reshore, or bring back manufacturing and other endeavors from abroad to the United States.

“We have fundamentally changed the economy,” said Gary Cohn, vice chairman of IBM and former director of the National Economic Council. “Companies are investing more in the United States than they have in a long period.”

Fred Hubler, the CEO and Chief Wealth Strategist of Creative Capital Wealth Management Group in Chester Springs, is not as convinced that the economy is perfect.

“I’m a positive guy,” he said. “But there are major cracks in the dam that are not properly being understood by these high stock-market returns. In the short term, we have inflation, labor shortage, and geopolitical uncertainty here and abroad. Long term, we have the unsustainable national debt, aging U.S. population, and global debt.”

Read more about the current investing environment in The Wall Street Journal.

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