U.S. stocks end at records as tech powers equities to fourth straight daily gain
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2018 Jan 5, 1:23pm 752 views 1 comment
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MrMagic
2018 Jan 5, 8:32pm
MrMagic
2018 Jan 5, 8:32pm
Dow logs 220-point gain to end stellar first week of 2018 for the stock market .
Friday’s rally meant that none of the equity indexes have posted a down day so far in 2018. For the S&P 500 and the Nasdaq, it was the fourth straight closing record, while the Dow carved out its third in a row. The broad-market benchmark has closed at a record on the first four trading days of the new year, the first time it has done so since 1964, according to WSJ Market Data Group.
For the week, the Dow rose 2.3%, the S&P 500 gained 2.6%, while the Nasdaq is up 3.4%. The Dow notched the biggest weekly gain since the period ended Dec. 1, 2017, the S&P 500 recorded its best weekly rise since Nov. 11, 2016, and the Nasdaq logged its best climb over the same period since Dec. 9., 2016.
What drove the market?
The gains over the week have been buoyed by the recently passed corporate tax-cut package, rising commodity prices, and robust corporate earnings. Solid economic data and low bond yields have also been cited as contributing factors.
https://www.marketwatch.com/story/sp-eyes-another-historic-record-run-with-us-jobs-data-on-deck-2018-01-05
Friday’s rally meant that none of the equity indexes have posted a down day so far in 2018. For the S&P 500 and the Nasdaq, it was the fourth straight closing record, while the Dow carved out its third in a row. The broad-market benchmark has closed at a record on the first four trading days of the new year, the first time it has done so since 1964, according to WSJ Market Data Group.
For the week, the Dow rose 2.3%, the S&P 500 gained 2.6%, while the Nasdaq is up 3.4%. The Dow notched the biggest weekly gain since the period ended Dec. 1, 2017, the S&P 500 recorded its best weekly rise since Nov. 11, 2016, and the Nasdaq logged its best climb over the same period since Dec. 9., 2016.
What drove the market?
The gains over the week have been buoyed by the recently passed corporate tax-cut package, rising commodity prices, and robust corporate earnings. Solid economic data and low bond yields have also been cited as contributing factors.
https://www.marketwatch.com/story/sp-eyes-another-historic-record-run-with-us-jobs-data-on-deck-2018-01-05
The Dow Jones Industrial Average rose 220 points, or 0.8%, to 25,289. The S&P 500 gained 19 points, or 0.7%, to 2,743. The Nasdaq Composite Index added 59 points, or 0.8%, to 71,37.
All three closed at records, and have yet to have a negative session in 2018. Friday also marked the fourth straight record close for the S&P and the Nasdaq.
For the week, the Dow gained 2.3%, the S&P was up 2.6%, and the Nasdaq was up 3.4%. Both the S&P and the Nasdaq had their biggest weekly percentage gain since November 2016.
https://www.marketwatch.com/story/us-stocks-end-at-records-as-tech-powers-equities-to-fourth-straight-daily-gain-2018-01-05
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