The Dow Jones Industrial Average reached a historic milestone by surpassing 40,000 points for the first time.
The index, which tracks 30 of the most valuable publicly traded U.S. companies, has seen a 6% increase so far this year.
Driving the news: Recent market gains are attributed to cooling inflation data, signaling potential interest rate cuts by the Federal Reserve.
- The Fed had previously halted its forecast of rate cuts, but the moderation in price increases might reignite those plans.
- The stock market rally also includes record highs in the S&P 500 and Nasdaq indexes following news of slowed inflation.
- Major tech firms, especially those involved in artificial intelligence, have boosted the stock market rally this year.
