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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