Dow rises above 40,000 for the first time as bull market gains steam

16 Mayıs 2024 23:12



The Dow was last up 127 points, or 0.3 percent. At its high of the day, the average touched 40,0051, culminating in a bull market that began in October 2022. 

The index had neared the 40,000 mark earlier this year before a slight April pullback on worries about high interest rates knocked it back down. The rally was rekindled in May due to strong earnings and some soft inflation readings.

Thursday saw a positive performance across major indices. The S&P 500, a broad measure of the stock market’s health, rose 0.3 percent to a new record, following its first-ever close above the 5,300 level on Wednesday. 

The tech-heavy Nasdaq Composite also gained 0.3 percent, reaching an all-time high. These gains reflect the overall bullish sentiment in the market. For the year, the Dow has climbed more than 6 percent, while the Nasdaq and S&P 500 have each seen an impressive 11 percent increase.

America News Agency

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