3M, Caterpillar earnings boost Dow to another record close
27 January, 2018, 20:33 | Author: Lynette Payne
Wall Street stocks were in full-throttle rally mode Friday, with all three major indices surging to records following strong earnings reports from Intel and other companies.
The broad-based S&P 500 gained 1.2 per cent to 2,872.87, and the tech-rich Nasdaq Composite Index jumped 1.3 per cent to 7,505.77.
The three main indexes notched their best four-week run since 2016. The MSCI world equity index, which tracks shares in 47 countries, climbed for a 10th straight week, its longest weekly winning streak since 1999.
Meanwhile, traders were also digesting a mixed batch of economic data, including a report from the Commerce Department showing a steep drop in new home sales in the month of December.
Chipmaker Intel jumped 9.4 percent and drugmaker AbbVie soared 9.3 percent after both reported results that were far better than analysts were expecting. Airlines plunged again while biotech drugmakers climbed.
As of Thursday, 77 per cent of the S&P 500 companies that had reported surpassed earnings expectations, while 79 per cent of those companies had beaten sales estimates, according to United States financial information company FactSet.
Also helping equities, the US dollar remained weak against a basket of major currencies, still bruised by comments earlier this week by US Treasury SecretarySteven Mnuchin in support of a weak dollar and following Friday's US growth data. The greenback clawed back some of the losses after President Donald Trump said he ultimately wants the dollar to be strong.
The latter finished up 141 points at 26,392 while the S&P 500 added 1.71 at 2,839.
Investors shrugged off government data that put fourth-quarter USA growth at 2.6 per cent, below the 2.9 per cent expected by analysts.
Intel's shares increased by 9.1 percent. S. Treasury yields trimmed early gains after the GDP data. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, fell by 3.3 basis points to 2.621%.
U.S. West Texas Intermediate (WTI) crude futures closed at $66.14 a barrel, up 63 cents, or almost 1 per cent.
Where can I see the super blue blood moon? You can find out what will happen in your city with this interactive eclipse map . The moon's orbit is not perfectly circular, meaning its distance from Earth varies as it goes through one cycle.
Vince McMahon , seen in 2000 announcing the XFL's original launch, announced Thursday he is resurrecting the football league. Competition will begin with eight teams of 40-man rosters and what McMahon called a "faster, more fan-centric game".
Winds will pick up this afternoon out of the northwest with sustained winds 15-20 miles per hour and stronger gusts. As things begin to warm up on Friday morning snow could become mixed and turn into rain in some spots.
But the move has infuriated the Palestinians, with whom Pence is not meeting, and upset America's Arab allies as well. Speaking in Davos, Israeli Prime Minister Benjamin Netanyahu said only the United States could broker a peace deal.
The iOS 11.3 update is expected to be available from during Spring, or March to May, Channel NewsAsia understands. Notably, the new version also packs up specific vital features that enhance the performance of iPhone's battery.
Independent Co UK French President Emmanuel Macron has pledged to shut all of his country's coal-fired power plants by 2021. The event was co-ordinated with a series of pledges amounting to $3 billion from companies including Toyota.
The number of non-farm jobs in MS rose by 2,900 in December to 1,162,800, which are the most jobs ever recorded in Mississippi. The state's unemployment rate also edged up to 4.1 percent in December from November's rate of 4 percent.
Listening to said voice, he builds a baseball diamond in the middle of a field, which summons ghosts of great ball players past. The owner of the field, Denise Stillman, has started a GoFundMe campaign to raise money to fix the Field of Dreams .
The total eclipse begins at 6.21pm, shortly after, the moon will take on a copper-red tint as it rises above the eastern horizon. The second type is Monthly Blue Moon , known as the second Full Moon in a Georgian month as opposed to the usual one Full Moon.
Museveni has directly praised Trump before - just weeks ago in a New Year's address, the Ugandan leader said he liked Trump. President Museveni got legislators from the East African Community laughing when he said he loved Trump.
Bank of America faces backlash for ending free checking
Free checking is still available, you just have to know where to look. "I don't expect that's going to change anytime soon". The diminished corporate tax rate of 21% (down from 35%) will save Bank of America an estimated $2.7 billion this year.
First look at Brie Larson in costume as Captain Marvel
This makes a lot of sense, as from what we know of the plot, it is set to bring in Mar-Vell into the Carol Danvers origin story. So this is probably from an earlier point in the movie, before she starts wearing her more well known color scheme.
Meryl Streep to star in 'Big Little Lies' Season 2
Big Little Lies won a string of awards this month, including Golden Globes and Screen Actors Guild gongs for Kidman and Skarsgard. The news comes on the heels of Streep receiving an Oscar nomination for her leading role in Steven Spielberg's " The Post ".
Five reported missing in Pittsburg County oil rig blast
A Tulsa medical life support helicopter landed near Quinton High School's Event Center. "The fire is containing itself right now". Morris said anyone wanting to check on their relatives can contact the Pittsburg County Sheriff's office at 918-423-5858.