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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.