The Dow Jones Industrial Average surpassed 40,000 for the first time, as the bull market surged higher on expectations that inflationary pressures would subside and interest rates would fall. The Dow closed up 83 points, or 0.2%.
The average reached a high of 40,0051 for the day, marking the end of a bull market that began in October 2022.
The index had approached 40,000 early this year before a minor April reversal on concerns about increasing interest rates brought it back down. The surge was revived in May by solid earnings and low inflation readings.
Source (CNBC)
