Stocks closed higher, with new economic data strengthening expectations for a Federal Reserve rate cut in September. The Dow touched a new record above 40,000 since late May.
The $Dow Jones Industrial Average(.DJI.US)$ added 247 points, rising 0.62% to top above 40,000 since late May. The $S&P 500 Index(.SPX.US)$ rose 0.55% to close at 5615.35, and the $Nasdaq Composite Index(.IXIC.US)$ gained 0....