The possibility of a government shutdown also loomed, though Warne said she believed it would have more impact on Wall Street’s performance if an agreement was not reached by the end of Friday.
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“Armenpress” reports the value of Dow Jones stood at 25803.19 points, S&P 500 stood at 2786.24 points, Nasdaq stood at 7261.06 points.
But, she added, “investors are continuing to move into equities as they see returns”. The Dow closed above 26-thousand for the first time on Wednesday, continuing its early-year surge.
Gains in companies from Boeing to Caterpillar lifted the index for American blue chips past the round-number milestone just 12 calendar days since it topped 25,000.
“A big concern is the market right now is: ‘Is tax reform priced in?'” said Lindsey Bell, investment strategist at CFRA Research.
The S&P’s tech group rose 1.5% on the day, which bolstered the Nasdaq.
Stocks finished a seesaw session higher, with the S&P and Nasdaq picking up record highs, with help from a rally in the chip sector.
Citigroup on Tuesday reported adjusted earnings per share of 1.28 dollars for the fourth quarter of 2017, beating market expectations 1.19 dollars.
For example, while then-Federal Reserve chairman Alan Greenspan warned of investors’ “irrational exuberance” in December 1996, the dot-com stock boom didn’t top out until March 2000, or more than three years later.
Walmart advanced 1.6 per cent following an upgrade from Goldman Sachs, which praised the retail giant’s strategy and said it was likely to grant a “meaningful” dividend hike because of United States tax reform.
Those welcome signals from the White House come against the backdrop of steady economic expansion, with US GDP growing every year since 2010, fuelling the good mood on Wall Street. They may have the wind at their backs as tax reforms mean US businesses and many taxpayers are poised to keep more of their money in 2018.
What’s more, the average cash balance of fund managers fell to 4.4% in January, a five-year low, according to BofA.
Volume rose sharply on both major exchanges in the stock market today. In the first 11 trading days of the year it has risen almost 1,400 points, or 5.6%.
Zell, known for his real estate success, said much of his assets are in cash.
The pan-European FTSEurofirst 300 index lost 0.09 percent and MSCI’s gauge of stocks across the globe gained 0.19 percent.
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General Electric fell 2.9 percent after raising the prospect of breaking itself up and announcing more than $11 billion in charges from its long-term care insurance portfolio and new USA tax laws.
