Dow briefly sprints past 40,000-mark on earnings boost, rate-cut bets

The Dow Jones Industrial Average briefly breached the 40,000-point level for the first time on Thursday (May 16), the blue-chip index’s fastest 10,000-point climb, powered by strong quarterly results and rising bets of interest-rate cuts by the Federal Reserve.

The index surpassed its previous record high of 39,935.04, hit on Wednesday, and has recovered nearly 40 per cent from its October 2022 lows. At 10.33 am ET, the Dow was up 0.2 per cent at 39,984.95. REUTERS