Wall Street: Dow Jones tops 40,000 points
In late morning trading, the Dow Jones index gained 0.3% to 40,041.6 points, breaking the 40,000-point barrier for the first time in its history, less than four years after surpassing the 30,000 threshold.000 mark.
The Nasdaq Composite gained 0.3% to 16,792.5 points, after hitting a new all-time high of 16,793.9 points.
US equity markets had already set new all-time highs yesterday following reassuring inflation figures, which reinforced the scenario of a rate cut as early as September.
With their minds at rest about the Fed's policy evolution, investors were able to focus today on the good results of several heavyweights.
With a gain of 6%, Walmart was the main contributor to the Dow Jones' rise after reporting better-than-expected quarterly results.
But the upward movement remains mainly fuelled by technology stocks and the sector's usual powerhouses, such as AMD, despite Cisco's freshly-received results (-2%).
The market is also buoyed by the continuing recovery in oil prices, which is supporting the energy sector.
Investors, on the other hand, did not react much to the better-than-expected indicators published this morning, judging that they are unlikely to jeopardize the scenario of a rate cut in September.
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