The Dow Jones Industrial (^DJI) briefly crossed 40,000 for the first time in its history, echoing the significant gains in the broader market. While some signs point to inflation slowing, there have been signals that the consumer is beginning to pull back.

IDX Advisors Chief Investment Officer Ben McMillan joins Market Domination to discuss the Dow's new record and why he believes investors will need to move with "cautious optimism."

"I do think equities are priced to perfection at this point. So we would urge caution. It's also important to remember that this is a momentum driven market. You got to be really careful to kind of pick and choose your value," McMillan tells Yahoo Finance.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination.

This post was written by Nicholas Jacobino