Dow crosses 46,000: Stocks hit record high as Wall Street embraces Fed rate cut hopes

US stocks rose Thursday after a core reading of inflation data matched Wall Street's expectations. Jeenah Moon/Reuters New York —

Stocks hit record highs Thursday after August inflation data mostly matched expectations, reaffirming investors’ hopes that the Federal Reserve will cut interest rates in September.

The Dow rose 617 points, or 1.36%, and closed at 46,108, crossing the 46,000-point mark for the first time.

It’s a symbolic milestone for the blue-chip index, and emblematic of the stock market’s persistent rise despite tariff uncertainty and signs of weakness in the economy.

The broader S&P 500 rose 0.85%, and the tech-heavy Nasdaq gained 0.72%. All three major indexes closed at record highs.

Inflation data released Thursday morning showed consumer prices ticked up in