12:03 PM EDT, 05/16/2024 (MT Newswires) -- The Dow Jones Industrial Average gained 0.2% Thursday to touch 40,000 for the first time ever, according to media reports. The other two major US indexes were also up in late-morning trading as softer-than-expected consumer price index data has raised investors' hopes for the Federal Reserve to ease monetary policy.

In company news, Walmart ( WMT ) reported fiscal Q1 adjusted earnings Thursday of $0.60 per diluted share, up from $0.49 a year earlier and above the Capital IQ consensus analyst estimate of $0.52. First-quarter revenue was $161.50 billion, up from $152.30 billion in the year-ago period and above the consensus analyst expectation of $158.14 billion. The company said it expects fiscal Q2 adjusted EPS of $0.62 to $0.65 and net sales growth of 3.5% to 4.5%. For the full fiscal year, Walmart ( WMT ) said it now expects to hit the high end or slightly exceed its initial outlook of $2.23 to $2.37 adjusted EPS and 3% to 4% in net sales growth. Shares of the company were up nearly 6% near noon.

Crescent Energy ( CRGY ) and SilverBow Resources ( SBOW ) said Thursday they have signed a deal under which Crescent will buy SilverBow for $2.10 billion. SilverBow shareholders will receive 3.125 of Crescent's Class A common shares for each SilverBow common share they own, with the option to elect to receive a part or all of the proceeds in cash at $38 per share. Crescent's stock was down 8.8%, while SilverBow's was up 10%.

The US Supreme Court upheld the Consumer Financial Protection Bureau's funding system, clarifying a critical legal question regarding the agency, according to media reports. The justices voted 7-2 to reject arguments that the CFPB was set up in violation of the constitutional provision that mandates a congressional appropriation for government spending.

United Airlines (UAL) is no longer under a Federal Aviation Administration-mandated operational freeze, Bloomberg reported Thursday, citing a company message to employees it viewed. The FAA's United freeze came in the wake of a string of high-profile safety incidents. United needed to delay the launch of two new routes it planned to begin this summer because the carrier could not take delivery or have three new jets certified during the FAA's review, Bloomberg reported. Shares of United Airlines were up 0.4%.

The Charles Schwab Corporation ( SCHW ) announced Thursday that Chief Financial Officer Peter Crawford has decided to retire and that he will be succeeded by Mike Verdeschi, who will join the company on May 20 as deputy chief financial officer. Schwab said it expects to appoint Verdeschi, who most recently served as Citigroup's (C) treasurer, as CFO following a transition period. Shares of Schwab were down 1.2% around midday.

Goldman Sachs ( GS ) has won a $43 billion mandate to invest pension fund assets of UPS (UPS), Bloomberg reported, citing an announcement. Goldman shares were up 0.4%.

The US Department of Homeland Security added 26 Chinese companies, including textile manufacturers, to its Uyghur Forced Labor Prevention Act Entity List.

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