Stocks surged on Thursday, propelling the Dow Jones Industrial Average closer to its seventh consecutive winning day, as new jobless claims data sparked optimism about potential Federal Reserve rate cuts later this year. The Dow Jones Industrial Average rose 331.37 points, or 0.85%, marking its longest winning streak of 2024 so far.
The S&P 500 and Nasdaq Composite also joined the rally, gaining 0.51% and 0.27%, respectively. Home Depot and Caterpillar led the charge, with both stocks rising more than 2% as they drove the Dow higher.
Source (CNBC)
