Wall Street advanced into uncharted territory as the Dow Jones Industrial Average topped 40,000 for the first time ever on Thursday, driven by investors thinking that a cooling but stable economy will lead the Federal Reserve to cut interest rates this year.
The Dow hit the historic mark as Walmart jumped 6% after delivering robust first-quarter results, with the index lately up 127 points, or 0.3% at 40,035.
The S&P 500 and Nasdaq Composite also rose to record heights, up 3% each.
— This is a developing story.
Kate Gibson
Kate Gibson is a reporter for CBS MoneyWatch in New York.
