NEW YORK — 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. The Dow was up 106 points, or 0.3%, to 40,019 in mid-morning trading Thursday. The S&P 500, which is widely tracked by index funds, was up 0.2%. The Nasdaq composite edged up 0.2%.
Target, which reports its quarterly results next week, was also rising, along with other retailers like Dollar General. A string of worse-than-expected reports on inflation at the start of the year had put the potential for such cuts in jeopardy, but some more encouraging data has since arrived. “Today’s numbers were in line with the overall theme of the week—nothing dramatic, but showing signs of a steady-to-cooling economy,” said Chris Larkin, managing director, trading and investing, at E-Trade from Morgan Stanley.
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