S&P 500 hits record high, Dow eyes 40,000 for first time on slowing inflation data

By Martin Baccardax | The Street

U.S. stocks powered higher Wednesday while Treasury yields and the dollar slipped, as investors picked through a crucial April inflation report that could add further fuel to the market’s recent spring rally.

The S&P 500 is now trading 0.71% higher on the session at 5,283.90 points, with a new intra-day peak of 5,284.50 points, while the Nasdaq is up 0.84% at 16,165.17 points.

The Dow is now just 233 points from breaching the 40,000 mark, having risen 0.5% from last night’s close, with Salesforce CRM, Home Depot HD and UnitedHealth Group UNH pacing gains. 

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