Stock Market Today: Dow ends above 40,000 as inflation continues to cool

Investing.com-- The Dow rallied to close above 40,000 level Wednesday as data pointing to further slowing in inflation is expected to bring the Federal Reserve a step closer to begin the rate-cutting cycle next month.The report comes just a day after coole-than-expected July producer price index that added to signs that the Fed's policies are working to bring down inflation.

"The Fed has been desperate for signs of the impact of their rate hikes on demand and inflation, and they have finally started seeing it since May," Jefferies said in a Wednesday note.The chipmaker said earlier this month that it would cut more than 15% of its workforce and suspend its dividend amid a pullback in spending on traditional data center semiconductors and a shift towards AI chips.

Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.would like to remind you that the data contained in this website is not necessarily real-time nor accurate.

It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock Market Today: Dow closes above 41,000 for first time as rotation gains steamStock Market Today: Dow closes above 41,000 for first time as rotation gains steam
Source: Investingcom - 🏆 450. / 53 Read more »

Stock Market today: Dow in 1033-point rout as slowdown fears trigger selloffStock Market today: Dow in 1033-point rout as slowdown fears trigger selloff
Source: Investingcom - 🏆 450. / 53 Read more »

Stock market today: Dow falls 1,000 points as recession fears fuel calls for interest rate cutEach of the major stock indexes fell more than 2% in early trading on Monday.
Source: abc13houston - 🏆 255. / 63 Read more »

Stock market today: Dow falls 1,000 points as recession fears fuel calls for interest rate cutEach of the major stock indexes fell more than 2% in early trading on Monday.
Source: ABC7 - 🏆 67. / 68 Read more »

Stock market today: Dow falls 1,000 points as recession fears fuel calls for interest rate cutEach of the major stock indexes fell more than 2% in early trading on Monday.
Source: ABC7Chicago - 🏆 284. / 63 Read more »

Stock market today: Dow falls 1,000 points as recession fears fuel calls for interest rate cutEach of the major stock indexes fell more than 2% in early trading on Monday.
Source: ABC7NY - 🏆 592. / 51 Read more »