Wall Street hits record high as Dow tops 40,000 fueled by strong earnings

From CBS News: 2024-05-16 17:30:32

Wall Street soared as Dow Jones topped 40,000 for the first time, driven by Walmart’s strong earnings. Investors foresee a “soft landing” as inflation cools and consumer spending stays robust. Despite Fed predictions, market experts believe the economy is resilient, with lower rates expected as inflation improves. Meme stocks are plummeting after a recent surge fueled by a popular investor’s online activity.



Read more at CBS News: Dow hits 40,000 for the first time as bull market accelerates