Published: Fri, January 19, 2018
Medicine | By Earnest Bishop

Dow closes 97 points lower as concern over government shutdown looms

Dow closes 97 points lower as concern over government shutdown looms

Wall Street closed in positive territory yesterday: The Dow Jones Industrial Average gained 1.3 per cent to close at 26,116, the S&P 500 added 0.9 per cent to close at 2,803 and the NASDAQ increased 1 per cent to close at 7,298.

The Dow rose 332 points, or 1.3 percent, to 26,115. The Dow closed 322 points higher to close above 26,000 points for the first time. A total of 854,885 shares exchanged hands during the intra-day trade contrast with its average trading volume of 888.31K shares, while its relative volume stands at 3.64.

U.S. earnings season has started off on a strong note so far, with Bank of America and U.S. Bancorp both posting better-than-expected results Wednesday. If the momentum holds, it could put the Dow in its fastest 1,000-point move in history.

The government is operating on its third temporary funding extension since the 2018 fiscal year began on October 1. Sceptics have dubbed the latest phase of the bull market a "melt-up", with United States shares continuing to rise despite looking overpriced by traditional yardsticks, and warn it could be a last hurrah before a downward correction or crash.

The Dow vaulted past 26,000 points, led by gains in shares of Merck and those of UnitedHealth Group, recently up 6.9 percent and 2.4 percent respectively. Edward Yardeni of of Yardeni Research who predicts the market will rise by 16 percent by the end of the year anxious that the market could reach that target months ahead of schedule.

CORPORATE NEWS: Shares in Airbus rose 2.6 percent after the planemaker struck a deal to sell more of its A380 superjumbo jets to Emirates airlines. The S&P 500 index climbed 0.9 percent to 2,802.56 and the Nasdaq added 1 percent to 7,298.28.

Vikings would serve as visitors in Super Bowl LII
Ramsay has stated that the Jaguars , already winners of two playoffs games this year, will go on to win the Super Bowl . That's when the teams held three days of joint practices before a preseason game won by Jacksonville 31-24.

Goldman said it lost $1.93 billion in the fourth quarter as the investment bank had to record more than $4 billion in charges related to the new tax law.

Shanghai China Composite Index was up 0.24%.

Specialist Meric Greenbaum, left, works with traders Michael Conlon, center, and Daniel Ryan on the floor of the New York Stock Exchange on Tuesday, Jan. 16, 2018. Based on a recent bid, its distance from 20 days simple moving average is -1.84%, and its distance from 50 days simple moving average is -0.60% while it has a distance of 0.82% from the 200 days simple moving average.

The dollar rose to 111.13 yen from 110.30 yen on Wednesday.

The pound traded at $1.3842, up from $1.3830 late Wednesday in NY. About 75% of revenue generated by FTSE 100 companies comes from global markets. The digital currency fell 1.6 percent to $11,172, according to the tracking site CoinDesk.

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