Dow Jones surges above 38 thousand points for first time in history

US stock indices gained ground today as markets focus on corporate results.

The current focus on corporate quarterly earnings and inflation-related data comes as investors assess the likely timing of upcoming interest rate cuts. 

Markets now hold a 46% chance for a Fed interest rate cut in March, down sharply from 81% in the previous week. 

Dow Jones rose 0.4%, or 140 points as of 17:05 GMT to 38,004, while S&P 500 rose 0.3%, or 13 points to 4,855, as NASDAQ rose 0.4%, or 55 points to 15,366.