Dow Jones Surpasses 40,000 Points for First Time on Thursday

May 16, 2024, 02:36 PM

The Dow Jones Industrial Average has surpassed the 40,000-point mark for the first time in history. This milestone, achieved on Thursday, represents the blue-chip index's fastest 10,000-point climb and is attributed to earnings boosts and rate-cut bets. The index has more than doubled from its pandemic low in March 2020 and has set 18 record closes in 2024. Notable contributions to this surge came from stocks like Caterpillar and Goldman Sachs.