The 30-stock Dow ended the day down 38.62 points, or 0.1 percent, closing at 39,869.38. The S&P 500 fell 0.21 percent, closing at 5,297.10, while the Nasdaq Composite dropped 0.26 percent, finishing at 16,698.32.
During the session, the broader market index also set a new record after closing above 5,300 for the first time ever on Wednesday, and the Nasdaq hit an all-time high. The Dow has gained nearly 6 percent in 2024, with the Nasdaq and S&P 500 both up 11 percent.
“This achievement is a testament to the powers of capital formation, innovation, profit growth, and economic resilience,” said John Lynch, chief investment officer at Comerica Wealth Management.
“The recent technical momentum and fundamental strengths, including earnings and interest rates, suggest further near-term gains.”
Walmart led the Dow’s surge past 40,000, rising nearly 7 percent on strong fiscal first-quarter results. Walmart’s shares have increased by 21 percent in 2024.