Tuesday, 19 June, 2018

Dow scores another record as stocks close mostly lower

S&P 500 Index Daily September E-mini S&P 500 Index
Laurie Berry | 02 August, 2017, 02:59

Wall Street advanced, with the Dow Jones touching a fresh record high, as better-than-expected corporate earnings bolstered the mood.

The Standard & Poor's 500 index was up 4.50 points to 2,476.60.

The tech-focused Nasdaq index climbed 20.74 points to 6,395.42.

The Canadian dollar was trading at 80.31 cents USA, down from Friday's average price of 80.34 cents US. The tech index's 0.49% rise on Tuesday led the major S&P sectors. Randy Frederick, vice president of trading and derivatives at the Schwab Center for Financial Research, said the shift is a good sign for the stock market.

'Stock Market could hit all-time high (again) 22,000 today.

Earlier, improvement in a closely watched private gauge of manufacturing in China fueled Asian shares.

With two-thirds of S&P 500 companies having reported their second-quarter earnings, 72% have beaten Wall Street's expectations, above the rate in the typical quarter when 64% of companies exceed estimates, according to Reuters. Eurozone economic growth gathered pace in the second quarter, coming in roughly in line with economists' expectations, data showed Tuesday.

Those results may reassure investors anxious about high valuations.

Chris Christie Addresses Confrontation With Cubs Fan
Christie also admonished residents to " get the hell off the beach " as Hurricane Irene approached the Shore in 2011. Christie was in Milwaukee this weekend to watch the Brewers and Cubs, and was at Friday night's series opener.

Boeing, which has helped propel the Dow industrials this year, was one of the stocks standing in the way of the index reaching its latest thousand-point milestone Tuesday.

The S&P 500 gained 0.24per cent to 2,476.35 and the Nasdaq Composite added 0.23per cent to 6,362.94.

The 30-stock index rose about 82 points to a new record, with Goldman Sachs contributing the most gains.

However, UAA stock is set to open with a 2.6% drop after running headlong into key technical resistance on Monday, as the athletic apparel name lowered its full-year sales forecast and unveiled a restructuring plan - which includes layoffs.

U.S. personal incomes have remain unchanged for June, failing to show any movement for the first time in seven months, despite markets bracing for a rise. General Motors said its sales fell 15 percent in July, while Ford's sales were down 7.5 percent.

Sprint Corp (NYSE:S) shares rocketed over 11% to $8.90 as the telecoms group hinted at deal prospects on a merger and it posted a quarterly profit for the first time in three years.

Overnight, the Oil price meantime fell 2 per cent, while the Copper and silver prices have also seen some weakness, which is not welcome news for the resources companies.

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