Dow closes above 26000 for the first time

19 January, 2018, 02:08 | Author: Martin Tyler
  • Amazon rose more than 2% extending gains from last week when data showed US holiday spending surged to 12-year high prompting price target hikes

Losses among Boeing, General Electric and other big industrial companies weighed on USA stocks Thursday, pulling the market below the record highs it set the day before.

The Standard & Poor's 500 index rose 6 points, or 0.2 percent, to 2,783.

- Boeing Co has been the index's largest percentage gainer since the January 4 close, contributing nearly 375 points in the Dow's run to Wednesday's milestone, with a rise of 18.3 percent.

The possibility of a government shutdown also loomed, though Warne said she believed it would have more impact on Wall Street's performance if an agreement was not reached by the end of Friday. At the start of trading, the Dow broke 26,000 for the first time, the S&P 500 topped 2,800, and the major averages brought their year-to-date gains up to 5%. The Nasdaq gained 74 points to 7,298.

Michael Wolff's Donald Trump Book "Fire and Fury" to Become TV Series
Melania Trump, who had been assured by her husband that he wouldn't become president, could return to inconspicuously lunching. The book's publisher made that announcement during a gathering of journalists and media-industry luminaries on Wednesday night.

The Commerce Department said Thursday that grounbreakings on new US homes declined in December to a seasonally adjusted annual rate of 1.19 million units.

Investors have been encouraged by strong global growth, rising company earnings and the prospects for further corporate profits thanks to the tax overhaul signed into law last month, which cut the top tax rate for corporations from 35 percent to 21 percent.

Bond prices fell. The yield on the 10-year Treasury climbed to 2.63 percent from 2.59 percent late Wednesday.

Alcoa tumbled 7 percent after the company reported a wider loss in the fourth quarter.

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Authorities say a man suspected of shooting four law enforcement officers in SC also fired at a police helicopter and damaged it. South Carolina Law Enforcement Division agents and Charlotte-Mecklenburg, N.C., police participated in the search.

General Electric slipped 4.5 percent, extending losses from Tuesday, when it announced more than Dollars 11 billion in charges.

Technology stocks, one of the biggest gainers this year, continued to notch gains. This trend is expected to continue in the coming weeks as Wall Street's earnings recovery continues.

The Dow is up 312.46 points, or 1.2 percent. Microsoft rose 1.7 percent and UnitedHealth gained 1 percent.

Industrial stocks rose after the Federal Reserve said USA industrial production increased 0.9% in December. Consumer staples rose 1.2% and healthcare added 1%.

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The blockbuster is estimated to make $14.7 million this weekend, pushing its total domestically to $$591.5 million. FOX is hoping to build word of mouth with the goal of gaining potential Oscar attention.

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