Enthusiasm for earnings lifts Wall Street

19 January, 2018, 02:09 | Author: Sheri Evans
  • 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

Wall Street roared upwards, with investor enthusiasm sending all three major stock indices to record finishes, and the Dow to its first close above 26,000 points. The Dow surged 1.3 percent to 26,115.65. The Dow, after briefly hitting the 26,000 milestone on Tuesday, its fastest 1000-point rise, is on track to close above that mark for the first time.

The new record comes in the early days of earnings season for the last quarter of 2017.

Laszlo Birinyi, longtime strategist and founder of Birinyi Associates, said earlier Tuesday that he sees clear signs the market is going into a period of consolidation, and he is now not setting a target for the S&P 500, after it crossed his last one at 2,760. Other companies have said they'll use savings from tax reform to buy back stocks.

Google Maps has gingerly returned to China after an eight year absence
Google's China domain, Google.cn, redirects traffic to its Hong Kong site, Google.com.hk. About 90 million users have signed up for it so far.

Also Wednesday, the S&P 500 gained 0.9 percent, closing at 2,802.56.

Benchmark crude slipped 2 cents to settle at $63.95 a barrel on the New York Mercantile Exchange. Brent crude, used to price worldwide oils, rose 23 cents to $69.38 a barrel. Copper rose 1 cent to $3.20 a pound.

The dollar rose to 111.13 yen from 110.30 yen on Wednesday. Natural gas fell 4 cents, or 1.3 percent, to $3.19 per 1,000 cubic feet.

Mercedes reveals all-new G-Class
Interior elbow room is up by 68mm in the front - handy if the Christmas period has left you feeling a little wider than you did. Mercedes also incorporated the new 12.3-inch Comand display that serves as both the gauge cluster and the infotainment display.

The price of bitcoin extended its slide Wednesday, though by late afternoon it had pared most of its losses from earlier in the day. The digital currency gained 2.9 percent to $11,462, according to the tracking site CoinDesk. Many finance pros believe bitcoin is in a speculative bubble that could burst any time. Wholesale gasoline added 2 cents to $1.86 a gallon. Heating oil dropped a penny to $2.06 a gallon.

Their losses, along with weakness in the heavyweight financial and healthcare sectors, dragged the pan-European STOXX 600 while Germany's DAX closed 0.47 per cent lower at 13,183.96.

The Hang Seng index closed up 0.25 per cent at 31,983.41.

Chelsea FC draw 0-0 at home vs Leicester City
Given the speculation surrounding their manager, it was intriguing to note the response of Chelsea fans. As for Fabregas, the Spaniard makes Chelsea tick and without him they lacked creativity in midfield.

Japan's Nikkei 225 index lost 0.4 percent, while the Kospi in South Korea shed 0.3 percent.

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