Dow breaches 40,000 mark as rate-cut hopes fuel fresh record high

[Spartan]

The Dow crossed the 40,000 level for the first time on Thursday, notching a fresh all-time high and leading Wall Street gains a day after tepid inflation data bolstered hopes of interest-rate cuts.

The blue-chip index has recovered nearly 40% from its October 2022 lows, powered by strong quarterly results and rising bets of interest rate cuts by the Federal Reserve.

"The Dow is seen as 'Main Street America' and media across this country and global media reference the Dow," said Quincy Crosby, chief global strategist at LPL Financial.

"What (the 40,000 milestone) means is that regardless of the concerns about inflation and consumer sentiment, the companies in the Dow, which represent a cross-section of our economy, continue to march higher on better earnings and stronger guidance."

All three major indexes notched record closes in the previous session after a smaller-than-expected rise in consumer inflation fueled optimism that inflation was easing after three months of hotter numbers.

The market is back to betting on two quarter-point interest rate cuts from the Federal Reserve this year, with traders seeing a 70% chance of the first reduction in September, according to the CME FedWatch Tool.

On the economic front, data showed the number of Americans filing new claims for jobless benefits fell 10,000 to a seasonally adjusted 222,000 for the week ended May 11.

Inflation is still not where the Fed needs it to be, with companies in the service sector continuing to feel they have pricing power, Richmond Federal Reserve president Thomas Barkin said.

Among earnings updates, Walmart rose 5.8% after the retail giant raised its fiscal 2025 sales and profit forecast, betting on easing inflation to further boost demand for essentials.

That helped consumer staples lead sectoral advances with a 1.6% gain.

Deere fell 3.2% after the farm equipment maker trimmed its annual profit forecast for the second time.

At 11:28 a.m. ET, the Dow Jones Industrial Average was up 112.55 points, or 0.28%, at 40,020.55, the S&P 500 was up 13.11 points, or 0.25%, at 5,321.26, and the Nasdaq Composite was up 35.67 points, or 0.21%, at 16,778.06.

[ARYA]

2 minutes ago, Spartan said:

The Dow crossed the 40,000 level for the first time on Thursday, notching a fresh all-time high and leading Wall Street gains a day after tepid inflation data bolstered hopes of interest-rate cuts.

The blue-chip index has recovered nearly 40% from its October 2022 lows, powered by strong quarterly results and rising bets of interest rate cuts by the Federal Reserve.

"The Dow is seen as 'Main Street America' and media across this country and global media reference the Dow," said Quincy Crosby, chief global strategist at LPL Financial.

"What (the 40,000 milestone) means is that regardless of the concerns about inflation and consumer sentiment, the companies in the Dow, which represent a cross-section of our economy, continue to march higher on better earnings and stronger guidance."

All three major indexes notched record closes in the previous session after a smaller-than-expected rise in consumer inflation fueled optimism that inflation was easing after three months of hotter numbers.

The market is back to betting on two quarter-point interest rate cuts from the Federal Reserve this year, with traders seeing a 70% chance of the first reduction in September, according to the CME FedWatch Tool.

On the economic front, data showed the number of Americans filing new claims for jobless benefits fell 10,000 to a seasonally adjusted 222,000 for the week ended May 11.

Inflation is still not where the Fed needs it to be, with companies in the service sector continuing to feel they have pricing power, Richmond Federal Reserve president Thomas Barkin said.

Among earnings updates, Walmart rose 5.8% after the retail giant raised its fiscal 2025 sales and profit forecast, betting on easing inflation to further boost demand for essentials.

That helped consumer staples lead sectoral advances with a 1.6% gain.

Deere fell 3.2% after the farm equipment maker trimmed its annual profit forecast for the second time.

At 11:28 a.m. ET, the Dow Jones Industrial Average was up 112.55 points, or 0.28%, at 40,020.55, the S&P 500 was up 13.11 points, or 0.25%, at 5,321.26, and the Nasdaq Composite was up 35.67 points, or 0.21%, at 16,778.06.

intaki em iyyindi

[Spartan]

Just now, ARYA said:

intaki em iyyindi

deni gurinchi

[ARYA]

1 minute ago, Spartan said:

deni gurinchi

rate lu tagocha, I doubt it ya

 

[Spartan]

Just now, ARYA said:

rate lu tagocha, I doubt it ya

 

election ki mundu suprise ivvochu

other than that i dont see it happening..

#greed-flation

[ARYA]

1 minute ago, Spartan said:

election ki mundu suprise ivvochu

other than that i dont see it happening..

#greed-flation

ippatike @csrcsr lanti valla stock profiles $2 mill ki touch iyyayi, inka rates taggiste disaster ee

[Spartan]

1 minute ago, ARYA said:

ippatike @csrcsr lanti valla stock profiles $2 mill ki touch iyyayi, inka rates taggiste disaster ee

e Q2 earning reports all are going to spike.

[ARYA]

Just now, Spartan said:

e Q2 earning reports all are going to spike.

inka next level ki potai stocks

[csrcsr]

2 minutes ago, Spartan said:

e Q2 earning reports all are going to spike.

So more hiring??

[Spartan]

1 minute ago, ARYA said:

inka next level ki potai stocks

cinema starts next week..  with NVDA on 22nd

[Spartan]

Just now, csrcsr said:

So more hiring??

more profit taking..no hiring

[ARYA]

Just now, Spartan said:

more profit taking..no hiring

 

Just now, Spartan said:

cinema starts next week..  with NVDA on 22nd

NVDA dump cheyyatam better aa almost 300% bullish unna 

[Spartan]

2 minutes ago, ARYA said:

 

NVDA dump cheyyatam better aa almost 300% bullish unna 

im holding ivala lesindi bagane...will put sell order for 1100 next week

[reality]

2 minutes ago, Spartan said:

more profit taking..no hiring

 

[futureofandhra]

4 minutes ago, csrcsr said:

So more hiring??

India lo kooda leputunnaru anta

Ippudu hiring ekkada 

Inko 2 years pattachu antunnaru