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Dow Jones Industrial Average briefly hit 40,000 amid renewed hopes for U.S. economy


The Dow Jones Industrial Average stock index touched 40,000 briefly for the first time Thursday amid renewed investor hopes for a “soft landing” for the U.S. economy following a favorable inflation report.

It retreated slightly at the market close, landing at 39,869.

The index, which is comprised of the stocks of 30 major companies such as Apple and McDonald’s, has gained a modest 6% on the year. The other major U.S. stock indices, the S&P 500 and the Nasdaq, also hit record highs and have outpaced the Dow with their year-to-date gains.

The Biden-Harris campaign released a statement calling the milestone “just another example of how President Biden is strengthening our economy and helping to secure the retirement of millions of Americans across the country.”

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