Page 5 - Carson Group News Today

The Dow Jones Industrial Average hit 40,000 for the first time amid renewed investor hopes for a "soft landing" for the U.S. economy after a promising inflation report.

"To keep it very simple, this isn't something you see in a bear market and it means this early spring rally likely has legs," Ryan Detrick said.

The Dow Jones Industrial Average registered its fourth winning session on Monday, lifted by hopes over Fed rate cuts.

Shares advance; ANZ records 7 per cent cash profit decline in first half results; AGL upgrades earnings guidance; RBA cash rate decision at 2.30pm AEST. Follow updates here.

The major averages are on track for modest declines on the week as Wall Street awaits the April jobs report.

International Business News: Wall Street stocks finished a choppy session mostly lower while the dollar retreated Wednesday after the Federal Reserve's latest decision to hold int

U.S. stocks closed mixed on Wednesday after the Federal Reserve left its key interest rate unchanged, as expected, and indicated that while its next move will likely be a rate cut, continued progress on inflation is not assured.

Fundstrat's Tom Lee crunched the numbers and found that since 1985, "May has been a surprisingly good month" for the stock market.

MARKET WRAPS Watch For: Manufacturing PMI data for EU, Germany, France, Italy; trading updates from Standard Chartered, Shell, ING, Maersk, Orsted, Hugo Boss, Pandora Opening Call: ...

"The workhorse of the US economy remains the consumer, and there's really not much sign of a slowdown," Carson Group said.