Index has more than doubled since spring 2020 as investors hope for interest rate cuts following Federal Reserve inflation figures
The Dow Jones Industrial Average passed 40,000 points for the first time on Thursday, powered by strong quarterly results from corporate America and rising bets of interest-rate cuts by the Federal Reserve.
The index has more than doubled since the spring of 2020 when the World Health Organization declared Covid-19 to be a global pandemic. The outbreak shuttered businesses worldwide as the death toll mounted. In its wake came supply chain issues that led to soaring inflation.
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