If the Fed so chooses, it can issue enough money that gasoline prices, and the Dow, and grocery prices, all double within the next four years. QE5, QE6, etc.
The only meaningful index of the Dow is its ratio to some outside measure of value. Gold, copper, corn, gasoline, something from the world of the real. The dollar is a convenient medium of exchange, but it's not a fixed quantity of gold or silver and its purchasing power generally drifts downward.