The Dow crossed the 40,000 level for the first time on Thursday, notching a fresh all-time high and leading Wall Street gains a day after tepid inflation data bolstered hopes of interest-rate cuts.
The blue-chip index has recovered nearly 40 percent from its October 2022 lows, powered by strong quarterly results and rising bets of interest rate cuts by the Federal Reserve.
"The Dow is seen as 'Main Street America' and media across this country and global media reference the Dow," said Quincy Crosby, chief global strategist at LPL Financial.
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