Weekly Market Recap: Dow Jones Hits Record High Above 40,000 Amid Post-Tech Sell-Off Rebound

Friday, 12 July 2024, 21:38

In a significant milestone, the Dow Jones Industrial Average breached the 40,000 mark, driving a market rally that recovered from recent tech sell-offs. Amidst volatile trading, inflation data solidified expectations for September rate hikes, while major banks started reporting strong second-quarter earnings.
Yahoo Finance
Weekly Market Recap: Dow Jones Hits Record High Above 40,000 Amid Post-Tech Sell-Off Rebound

Market Rally and Record High

The Dow Jones Industrial Average reached a historic milestone surpassing 40,000 points, signaling a recovery from recent setbacks.

Volatility and Inflation Concerns

Inflation data played a key role in shaping investor sentiment, leading to speculation on potential rate hikes in September.

In a week of gains, Wall Street banks also began releasing Q2 earnings reports, adding to the market's positive momentum.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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