From NBC News: 2024-05-16 10:41:00

The Dow Jones Industrial Average crossed 40,000 for the first time on renewed hopes for a smooth U.S. economic landing after a favorable inflation report. The S&P 500 and Nasdaq also hit record highs with year-to-date gains outpacing the Dow. The Consumer Price Index rose 3.4% for April, below analysts’ predictions, indicating slowing price growth. Investors prefer this deceleration as it suggests sustainable price increases and potential interest rate cuts by the Federal Reserve. Strong corporate earnings are contributing to the market’s optimism despite consumer sentiment survey showing concerns about the economy’s health.



Read more at NBC News: Dow Jones hits record high 40,000 amid promising inflation report and robust corporate earnings