Stock market today: Dow touches 40,000 as stocks hover at record highs

US stocks climbed Thursday with the Dow Jones Industrial Average crossing 40,000 for the first time ever as markets added to Wednesday's record-setting rally. Along with the Dow's push to a new price milestone, the S&P 500 climbed 0.2% after closing above 5,300 for the first time on Wednesday. The tech-heavy Nasdaq Composite also gained 0.2%. Stocks rallied on Wednesday after new data showed signs of cooling inflation, which spurred bets on a Federal Reserve rate cut in September.

Bets on a Fed rate cut in September rose to over 70%, per the CME FedWatch Tool, amid rising speculation about an easing as soon as July. Read more: How does the labor market affect inflation? Investors also jumped into bonds, sending the 10-year Treasury yield down near one-month lows at around 4.33%. On the corporate front, Walmart posted quarterly profits, revenue, and same-store sales that beat Wall Street estimates. Shares of the US retail giant gained as much as 6%.

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Stock market today: Dow eyes 40,000 as stocks regroup near record highsSigns of cooling inflation continued to spur bets for a Federal Reserve rate cut in September.
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Stock market today: Dow Jones Industrial Average hits 40,000 points for the first timeNEW YORK (AP) — Stocks are adding to their gains on Wall Street, sending the Dow Jones Industrial Average above 40,000 points for the first time. The market had rallied a day earlier folllowing a report showing that inflation was cooling.
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Stock market open: Dow Jones on path for 40,000 benchmarkThe three major stock market averages (^DJI, ^IXIC, ^GSPC) generally open higher to start Thursday's session: the S&P 500 floats above its record-high of...
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Stock market today: Dow eyes 40,000 as faith in rate cuts lifts US futuresSigns of cooling inflation continued to spur bets for a Federal Reserve rate cut in September.
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Stock market today: Dow snaps 8-day win streak, GameStop soars as meme frenzy reignitesAttention is on this week's CPI report, seen as a potential starting gun for Fed rate cuts.
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