The Dow Jones Industrial Average finished the day above the 40,000 level for the first time as U.S. stock indexes drifted around their record heights to close their latest winning week.A heart is displayed on the door of a gift shop across from the New York Stock Exchange on Thursday, May 16, 2024, in New York. The Dow Jones Industrial Average briefly topped the 40,000 level on Thursday for the first time but ended 0.1% lower.
The Hang Seng in Hong Kong added 0.5% to 19,648.19, with its property index up 0.6% by midday. The Shanghai Composite index advanced 0.3% to 3,162.08. The S&P 500, which is the much more important index for Wall Street and most retirement savers, added 0.1% to 5,303.27. It finished just 0.1% shy of its record set on Wednesday and closed out a fourth straight week of gains. The Nasdaq composite slipped 0.1% to 16,685.97.in the right direction after a discouraging start to the year. That in turn revived hopes for the Federal Reserve to
The hope is that the Fed can pull off the balancing act of slowing the economy enough through high interest rates to stamp out high inflation but not so much that it causes a bad recession.
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