The blue-chip Dow Jones Industrial Average closed at a record high as a subdued inflation report stoked hopes for more Federal Reserve rate cuts, which also boosted small-cap stocks and enabled Wall Street's three main indexes to post weekly gains.

The Dow Jones Industrial Average (DIA) closed at an all-time high after new data showed that inflation in the U.S. continues to trend down towards the U.S. Federal Reserve’s 2% target. The leading index that is comprised of 30 blue-chip stocks and meant to act as a proxy for the U.

The blue-chip Dow Jones Industrial Average closed at a record high today as investors welcomed a subdued inflation report that also lifted small-cap stocks which stand to benefit from more interest rate cuts by the Federal Reserve.

The PCE price index rose 0.1% in August, and chalked in PCE inflation growth of just 2.2% YoY, easing to the key inflation indicator’s lowest level since March of 2021. Headline inflation figures continue to ease toward the Federal Reserve’s (Fed) 2% target,

The Dow Jones Industrial Average is flirting with its second-worst day of 2024, trailing only the infamous Aug. 5 mini crash.

The Dow Jones Industrial Average closed at a record high, driven by investor optimism following a subdued inflation report. While the Nasdaq and S&P 500 edged slightly lower, all three indexes posted their third consecutive week of gains.

The blue-chip Dow Jones Industrial Average closed at a record high on Friday as investors welcomed a subdued inflation report that also lifted small-cap stocks which stand to benefit from more interest rates cuts by the Federal Reserve.