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Business

The Dow hits 40,000 for the first time

The Dow Jones Industrial Average crossed the 40,000 mark for the first time ever and is on track to hit its 19th record close as investors celebrate strong earnings and a slight slowdown in consumer inflation on the month last. This will be the third milestone of 1,000 points in 2024.

TeleprinterSecurityLastChangeChange %
Me: DJIDOW JONES AVERAGES39961.36+53.36+0.13%
WMTWALMART INC.64.18+4.34+7.25%

The Dow has gained about 6% this year and a strong quarter by the nation’s largest retailer, Walmart, helped propel gains Thursday. It closed above 30,000 on November 24, 2020. Investors are also betting that inflation could slow enough for the Federal Reserve to cut interest rates at least twice this year, according to the CME’s FedWatch tool .

WALMART SEES AN EXTENDED CONSUMER

Dow Jones Industrial Average

Goldman Sachs added the most points since 30,000, while 3M Co. subtracted the most, according to tracking by the Dow Jones Market Data Group.

APRIL INFLATION REPORT A MIXED BAG

TeleprinterSecurityLastChangeChange %
GSTHE GOLDMAN SACHS GROUP INC.466.09+7.62+1.66%
MMM3M CO.105.07+3.82+3.78%

Other notable contributors include Microsoft, UnitedHealth and Caterpillar.

Dow Jones 40,000

The road to the Dow Jones 40,000 (Dow Jones Market Data Group)

Still, the 30-member composite index lags the tech-heavy S&P 500 and Nasdaq, which are also trading at new record highs.

BUFFETT’S BERKSHIRE HATHAWAY REVEALS NEW ACTIONS

Both indexes are up about 11% this year, with 77% of companies beating their earnings estimates this season.

TeleprinterSecurityLastChangeChange %
SP500S&P5005309.17+1.02+0.02%
I:COMPNASDAQ COMPOSITE INDEX16731.791653-10:60 a.m.-0.06%

Google and Nvidia are trading at record highs. The chipmaker’s highly anticipated earnings report is scheduled for May 22.

TeleprinterSecurityLastChangeChange %
GOOGLEALPHABET INC.172.51+2.17+1.27%
NVDANVIDIA CORP.946.30+32.74+3.58%

News Source : www.foxbusiness.com
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