The Dow Jones Industrial Average stock index hit 40,000 for the first time Thursday amid renewed investor hopes for a “soft landing” for the U.S. economy following a favorable inflation report.
The index, which is comprised of the stocks of 30 major companies such as Apple and McDonald’s, has gained a modest 6% on the year. The other major U.S. stock indices, the S&P 500 and the Nasdaq, also hit record highs and have outpaced the Dow with their year-to-date gains.
