The Dow Jones Industrial Average (DIA) ETF has reached unprecedented levels, driven by a remarkable four-week surge. Trading at $400 on Friday, it has seen a staggering 135% increase from its 2020 low. This significant growth can be attributed to indications of potential interest rate cuts by the Federal Reserve, driven by slowing US economic growth and inflation.

The DIA ETF's performance is also influenced by the strength of the recent earnings season, with average revenue growth for S&P 500 companies reaching an impressive 5.4%. Most companies within the DIA ETF have experienced substantial growth, led by American Express with a 28% surge, followed by Walmart's 21% increase to an all-time high. Amazon's shares have risen 20% due to its dominance in cloud computing, while Goldman Sachs has seen a 20% increase following its transformation and growth in investment banking.

However, not all companies have shared the same success. Intel's stock has dropped 36%, Boeing has tumbled 30%, and Nike's shares have retreated 15% due to slow growth and rising competition. Other laggards include McDonald's, Cisco Systems, Johnson & Johnson, and Honeywell.

As the DIA ETF continues its upward trajectory, investors are optimistic about potential rate cuts and the strength of the US economy. With over $6 trillion in assets held in government bonds, rate cuts could bring more assets to US stocks, further fueling the economy. The DIA ETF's top performers, including Merck & Co, JPMorgan, Caterpillar, 3M, and The Travelers Company, are expected to continue driving growth in the market.