Dow sprints past 40,000-mark on earnings boost, rate-cut bets

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NEW YORK, May 16 — The Dow Jones Industrial Average breached the 40,000-point level for the first time ever today, its fastest 10,000-point climb, powered by strong quarterly...

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The blue-chip index surpassed its previous record high of 39,935.04, hit on Wednesday, and has recovered nearly 40 per cent from its October 2022 lows. At 10.40am ET, the Dow was up 0.2 per cent, at 39,992.67. US stock markets have climbed since the start of the year, as investors bet on an AI-led rally, robust earnings and hopes that the central bank will ease monetary policy this year.Of the 30 companies on the Dow, card company American Express and retail giant Amazon.com are among the biggest percentage gainers so far this year, up 29 per cent and 22 per cent, respectively.

Planemaker Boeing follows Intel with a 30 per cent year-to-date loss after the January 5 mid-air panel blowout on a MAX 9 jet rekindled concerns about safety.

 

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