business

Dow Jones industrial average crosses 40,000 levels for the first time on rate cut hopes

The Dow Jones industrial average crossed the 40,000 level for the first time on May 16 as the world stock index scored a third straight record intraday high on hopes of U.S. interest rate cuts and strong earnings. The Dow rose as high as 40,051.05 while the S&P 500 and Nasdaq also hit record highs in early New York trading before slowly losing steam and finishing slightly lower on the session

first published: May 17, 2024 10:37 am

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