NEW YORK — The Dow Jones Industrial Average climbed more than 400 points Thursday, closing above the psychologically important 50,000 level for the first time as investors cheered resilient corporate earnings, cooling inflation signals and growing optimism about potential Federal Reserve rate cuts later this year.

The blue-chip index finished at 50,098.87, up 405.67 points or 0.82%. The milestone crossing of 50,000 comes amid a broader market rally fueled by solid first-quarter earnings from major companies and expectations that the central bank may begin easing monetary policy as early as September. The S&P 500 also posted gains, rising 0.65% to close at a fresh record, while the Nasdaq Composite advanced 0.48%.

The Dow's strong performance was led by gains in financials, industrials and technology components. Goldman Sachs, American Express and Boeing contributed significantly to the index's advance, reflecting renewed confidence in the economic outlook. Boeing shares jumped after the company reported better-than-expected aircraft deliveries and progress on supply chain issues. Financial stocks benefited from a steeper yield curve and expectations of improved lending conditions if rates ease.

Economists and strategists described the move as a vote of confidence in the U.S. economy's underlying strength. Recent data showed inflation moderating more quickly than anticipated in certain categories, while consumer spending and........

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