Stock market today: Dow finishes above 40,000 to cap Wall Street's latest winning week

The Dow rose 134.21 points, or 0.3 per cent, to 40,003.59, a day after briefly topping the 40,000 level for the first time. It and other indexes on Wall Street have been climbing since the autumn of 2022 as the U.S. economy and corporate profits have managed to hold up despite high inflation, the punishing effects of high interest rates and worries about a recession that seemed inevitable but hasn't arrived.

Such moves can dilute the holdings of current shareholders, and it followed a similar move by AMC Entertainment. After the movie-theater chain's stock price also got caught up in a rocket ride upward, AMC said earlier this week it would issue nearly 23.3 million shares of stock to wipe out some debt.

The federal funds rate is sitting at its highest level in more than two decades, and a cut would goose investment prices and remove some of the downward pressure on the economy. Inflation is still higher than the Fed would like, and Bank of America's Michael Gapen still expects the Fed to hold its main interest rate steady until cutting in December.

Security video aired by CNN appears to show Sean 'Diddy' Combs physically assaulting singer Cassie in a Los Angeles hotel hallway in 2016.A New Mexico judge plans to rule next week on a grand jury indictment against Alec Baldwin in the fatal shooting on the set of 'Rust,' after hearing arguments Friday that the proceedings were unfair to the defendant.

Two daughters and a mother were reunited online 40 years later thanks to a DNA kit and a Zoom connection despite living on three separate continents and speaking different languages.'Unconscionable': B.C. mayor warns against sharing videos of properties destroyed by fire A judge has found Colin Tweedie guilty on three counts in connection to the death of 10-year-old Talia Forrest on a Cape Breton road on July 11, 2019.The four teenagers facing charges in connection to the death of 16-year-old Ahmad Al Marrach pleaded not guilty in a Halifax courtroom on Friday.The parents of one of the teens seen in a video that’s been widely circulated in Fredericton and beyond are calling for change.

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Stock market today: Wall Street drifts higher; Dow has its first close above 40,000The Dow Jones Industrial Average rose 0.3 per cent to close above 40,000 points for the first time on Friday.
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