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Dow Breaks 47,000 for the First Time as Inflation Cools and Fed Bets Rise
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The Dow closed above 47,000 for the first time, led by cooling inflation data that fueled expectations of Federal Reserve rate cuts later this year.
U.S. stocks rallied to record levels on Friday, with the Dow Jones Industrial Average climbing 1.0% to close at 47,207—its first time above the 47,000 mark. The S&P 500 rose 0.8% and the Nasdaq Composite added 1.2%, driven by investor optimism following softer consumer price index data. Market participants now anticipate at least two Federal Reserve rate cuts before year-end. Gains were broad-based across financials, technology, and energy sectors, signaling renewed confidence in the U.S. economy’s disinflation trajectory.