Dow Jones opens the week above 26,000

Economies.com
2018-01-16 15:27PM UTC

US stock indices opened the first session of the week at fresh record highs for Dow Jones, S&P 500, and NASDAQ, after closing on Monday for the Martin Luther King holiday, as the earnings season for major American banks and corporations starts positively. 

 

Earlier US data showed the Empire State Manufacturing Index dipped to 17.7 in January from 18, missing expectations of 18.5. 

 

Otherwise, White House economic adviser Gary Kohen said recently that the stock market is not too high right now, and the tax cuts have begun to have an impact on the economy, with wages rising and optimism improving. 

 

Last month, President Donald Trump singed into law the $1.5 trillion tax reform bill, which cuts the corporate tax rate from 35% to 21%, while also signing a stopgap government spending bill to prevent a government shutdown, in turn underpinning Wall Street to successive record highs. 

 

As of 03:24 GMT, Standard and Poor's 500 rose 0.60%, or 16.59 points to 2,802. while Dow Jones added 0.96%, or 248.57 points to 26,051.76. 

 

Tech-heavy NASDAQ muscled up 0.78%, or 56.40 points to 7,317.46. 

American Markets News

Americas News

Markets

Dow Jones rises ahead of US inflation data
2024-03-27 15:35PM UTC
Most US stock indices rose on Wednesday ahead of new important US data on growth and personal ...
Americas News

Markets

Wall Street gains ground following positive data
2024-03-26 15:41PM UTC
US stock indices rose on Tuesday after a series of losses as markets assess latest ...
Americas News

Markets

Wall Street loses ground as the week opens up
2024-03-25 16:16PM UTC
Most US stock indices declined on Monday as markets assess the Federal Reserve’s stance on ...