Dow closes above 27,000, renews record high

On the New York Stock Exchange, the Dow Jones Industrial Average has closed above the 27,000 mark for the first time, renewing a record high.

The key index ended at 27,088 on Thursday, up 227 points from the previous day's finish.

Federal Reserve Chairman Jerome Powell hinted on Wednesday that the Fed may cut interest rates.

Market players say investors think a rate cut is almost certain to happen this month.