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slash donate. The Dow Jones industrial average has never been this high and the

NASDAQ in 2023 so far is up six times what you might expect in an average year.

I'm David Brancaccio in New York.

The Dow hit a record high yesterday and looks on track to maintain that momentum this morning the

S&P 500 and the NASDAQ indices rallied as well. Stocks were propped up by

investors thinking the Federal Reserve will cut interest rates next year.

Marketplace's Nova Safo has more.

The economy has endured a more than five percentage point increase in interest rates

this year.

A recession has not materialized as feared and

investors got cheery yesterday when Fed Chair Jerome Powell signaled oh so

subtly that the Fed is starting to think about cutting rates.

We are seeing strong growth. that the Fed is starting to think about cutting rates.

We are seeing strong growth that appears to be moderating.

We're seeing a labor market that is coming back into balance by so many measures

...