Dow hits 40,000 for the first time ever

Wall Street advanced into uncharted territory as the Dow Jones Industrial Average topped 40,000 for the first time ever on Thursday, driven by investors thinking that a cooling but stable economy will lead the Federal Reserve to cut interest rates this year.

The Dow hit the historic mark as Walmart jumped 6% after delivering robust first-quarter results, with the index lately up 127 points, or 0.3% at 40,035. 

The S&P 500 and Nasdaq Composite also rose to record heights, up 3% each. 

— This is a developing story.

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