thematicamusementarcade: U.S. CPI in April showed cooling inflation boosted expectations for September interest rate cuts
U.S. stocks edged higher on ThursdayamusementarcadeThe Dow Jones Industrial Average exceeded the 40000 mark for the first time.
As of press time, Dow reported 40008amusementarcade.809 points, the S & P and the Nasdaq also continued to hit new highs.
The Standard & Poor's 500 Index hovers around 5315. Wal-Mart shares rose on a positive outlook as the large retailer attracts consumers looking for essentials and discounts. As the meme stock craze subsided, both game stations and AMC theaters fell.
"Breaking the 40000 mark is a huge psychological boost for bulls because round numbers have a special meaning in people's minds," said Chris Zaccarelli, chief investment officer of the Independent Advisor Alliance.
"(The Dow crosses 40000 points) This achievement demonstrates the power of capital formation, innovation, profit growth and economic resilience," said John Lynch, chief investment officer at Comerica Wealth Management.
"Recent technical momentum and fundamental advantages, including earnings and interest rates, point to further gains in the near term," he said. "However, investors should be careful not to get carried away, as a combination of geopolitics, valuations and market interest rates can lead to sudden directional shifts."
Miller Tabak +'s Matt Maley said stocks broke past all-time highs again this week, although another rally would put bulls dominating after a possible short-term "respite."
"If we see a short-term correction soon, there is a lot of room for maneuver in the stock market," he said. "In other words, the bulls are still fully in charge of the initiative, so a major reversal is needed to stop the upward trend."
As the Dow moves towards 40000 points, investor sentiment has been boosted by expectations of interest rate cuts and enthusiasm for artificial intelligence.
The U.S. CPI for April, released yesterday, rose 0.0% from the previous monthamusementarcade.3%。The index, a broad measure of the prices of goods and services on the cash register, is slightly below the Dow Jones forecast of 0.4%.