Dow Jones Industrial Average Hits 40,000 Points for The First Time

AP file photo
An entrance to the New York Stock Exchange is shown on May 8 in New York.

NEW YORK (AP) — Stocks are adding to their gains on Wall Street, sending the Dow Jones Industrial Average above 40,000 points for the first time.

The market had rallied a day earlier following a report showing that inflation was cooling. The Dow was up 106 points, or 0.3%, to 40,019 in mid-morning trading Thursday.

The S&P 500, which is widely tracked by index funds, was up 0.2%. The Nasdaq composite edged up 0.2%. Walmart rose after reporting stronger profit for the latest quarter than expected. Treasury yields were relatively steady following a mixed set of reports on the economy.