Dow Average Touches 40,000 Before Pulling Back: Markets Wrap
- US equities edge lower after breaking fresh records this week
- Treasuries retreat while US dollar rebounds from one-month low
The world’s largest stock market hovered near its all-time highs, with the Dow Jones Industrial Average touching the historic 40,000 mark on bets that rate cuts will keep powering Corporate America.
Following a series of small twists and turns, equities closed slightly lower as traders digested the gains of the past few weeks. Just as the rest of the market, the oldest of Wall Street’s three main stock indexes had rallied on prospects of a resilient economy, ebbing inflation and robust earnings.