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Stocks surged as Dow hit 47,000 on cooler inflation, boosting hopes for Fed rate cuts.
Stocks soared Thursday as the Dow Jones Industrial Average closed above 47,000 for the first time, boosted by a surprisingly mild inflation report that signaled cooling price pressures.
The Labor Department’s data showed inflation easing more than expected, strengthening expectations of imminent Federal Reserve interest rate cuts.
The S&P 500 and Nasdaq also gained, led by tech, consumer discretionary, and financial sectors.
Investors welcomed the data as evidence the economy may be softening without slipping into recession, reducing fears of prolonged high rates.
While optimism grew, some caution remained due to geopolitical risks and uncertain earnings.
The milestone close reflects market resilience and the powerful influence of macroeconomic data on investor sentiment.
Las acciones se dispararon cuando el Dow alcanzó los 47.000 con una inflación más fría, aumentando las esperanzas de recortes de tasas de la Fed.