Dow rises more than 200 points, touches new record above 40,000

The Dow Jones Industrial Average rose significantly on Friday, driven by gains from Home Depot and Caterpillar, as investors began diversifying away from the tech-heavy market.

The Dow climbed 247.15 points (0.62%) to close at 40,000.90, reaching a new all-time high of 40,257.24 during the session.

Home Depot and Caterpillar rose by 1.7% and nearly 1.4%, respectively. The S&P 500 increased by 0.55%, closing at 5,615.35, while the Nasdaq Composite gained 0.63% to finish at 18,398.45.

This rally followed a Thursday report showing a 0.1% decline in the consumer price index, raising hopes for a potential Federal Reserve rate cut in September.

The Russell 2000 Index also saw a 6% weekly gain, reflecting optimism for smaller companies amidst a favorable economic outlook, CNBC has reported.

read more: https://www.cnbc.com/2024/07/11/stock-market-today-live-updates.html

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