Dow Jones Closes Above 46,000 for 1st Time as Wall Street Bets on Rate Cuts

Recent inflation data suggest Fed will take a ‘gradual path, not an aggressive pivot,’ according to Gina Bolvin, president of Bolvin Wealth Management Group.

U.S. stocks rallied as investors bet that the August inflation data would not stop the Federal Reserve from cutting interest rates next week.

The blue-chip Dow Jones Industrial Average surged by 617 points, or about 1.36 percent, to close the Sept. 11 trading session at 46,108—above 46,000 for the first time ever. The index is up by 8.38 percent year-to-date.