Dow Jones breaks through 23,000 at the open

Economies.com
2017-10-18 14:36PM UTC

US stock indices opened the third session of this week mixed, with Dow Jones piercing 23,000 and hitting unprecedented highs on the back of IBM, which surged nearly 8% after the giant computer maker reported growth after six years of decline. 

 

It took Dow Jones from 22,000 to 23,000 half the time it took it from 21,000 to 22,000, as the third quarter earnings season start in earnest for major American banks and corporations. 

 

Earlier from the US, Federal Reserve Bank of New York President William Dudley participated in a panel discussion titled "Dallas and New York as Centers of Growth" at an event jointly hosted by the Federal Reserve Bank of Dallas and the Federal Reserve Bank of New York, in New York.

 

Earlier US data showed housing starts and building permits fell more than expected in September, as markets look forward to the Beige Book later today, which derives its importance from being released two weeks before the Federal Open Market Committee, and lays the background for policymakers' decisions and directions in order to stimulate the economy. 

 

As of 03:23 GMT, Standard and Poor's 500 rose 0.03%, or 0.88 points to 2,560.24, while Dow Jones muscled up 0.44%, or 102.98 points to 23,100.42. 

 

Tech-heavy NASDAQ shed 0.07%, or 4.52 points to 6,619.42. 

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