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Dow Jones Industrial Average hits 40,000 amid renewed hopes for U.S. economy

May 16, 2024

Via: NBC News

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.

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