Published: Sat, January 20, 2018
Money | By Armando Alvarado

Dow Jones closes above 26000 today

Dow Jones closes above 26000 today

Stocks are closing higher on Wall Street, sending the Dow Jones industrial average to its first close above 26,000 points.

USA stocks closed lower as investors digested the sharp gains made in the previous session. The Dow's surge on Wednesday was driven in part by a big gain in Boeing.

With the stock market reaching records so often, 1,000-point moves in the Dow have become increasingly commonplace.

Surging technology stocks sent the Nasdaq Composite Index (NYSEARCA:QQQ) to new highs. Just last week, the number of optimistic investors rose to 60 percent the highest number in 7 years.

The Dow Jones Industrial Average on Wednesday added 322.79 points, or 1.25 per cent, to 26,115.65, Xinhua news agency reported.

The S&P 500 decreased 4.53 points, or 0.16 per cent, to 2,798.03.

US stock-market indexes opened slightly higher on Friday and were on track to book modest weekly gains.

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Technology and healthcare companies accounted for much of the gains. Microsoft rose 1.7 percent and UnitedHealth gained 1 percent. Juno Therapeutics soared 51.9% after the Wall Street Journal reported that biotech drugmaker Celgene might buy it. The Russell 2000 index of smaller-company stocks gave up 19 points, or 1.2 percent, to 1,572.97. In the first 11 trading days of the year it has risen almost 1,400 points, or 5.6%.

Nasdaq 100 e-minis were up 38.75 points, or 0.57 percent, on volume of 72,029 contracts.

Energy stocks also fell as crude-oil prices declined.

Goldman Sachs fell 1.9% after posting its first quarterly loss in six years on tax-related charges and a sharp drop in trading revenue.

The S&P 500 is up 16.32 points, or 0.6 percent.

It took the Dow seven trading days since it first closed above 25,000 on January 4 to cross the 26,000-point threshold. The futures allow investors to make bets on the future price of bitcoin.

Benchmark West Texas Intermediate crude fell more than a dollar in NY to settle at US$63.73 per barrel. The price of the digital currency, which soared previous year after starting the 2017 under $1,000, has been hurt amid signs of potentially increased scrutiny from governments. The U.S. currency was up to 110.75 yen from 110.52 yen on Monday.

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