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The Dow soared on Friday and stocks rallied broadly as rate-cut bets intensified.
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New data showed cooling consumer inflation and only a mild increase in producer prices.
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The small-cap Russell 2000 jumped for the second day, rising more than 1% after adding 4% on Thursday.
Stocks jumped to end the week, with the Dow Jones Industrial Average rallying more than 200 points to close above 40,000 for the first time since mid-May.
Investors cheered the broadening of a 2024 stock-market rally that has been largely concentrated with mega-cap tech names associated with the AI trade.
Every sector of the S&P 500 rose on Friday, with 90% of the names in the index posting gains. Small-caps also jumped for the second day in a row, as the Russell 2000 saw a 1% return after surging 4% on Thursday.
Behind the rally in encouraging data that’s paving the way for a rate cut in September. Consumer prices…
