wnol.info July 20 2018


Dow Jones Industrial, S&P 500 and NASDAQ Hit All-Time Record Highs

July 20 2018, 06:45 | Alonzo Simpson

Dow Jones Industrial, S&P 500 and NASDAQ Hit All-Time Record Highs

Dow Jones Industrial, S&P 500 and NASDAQ Hit All-Time Record Highs

The three main indexes notched their best four-week run since 2016.

Intel's shares surged about 9 percent to their highest in nearly two decades, after results indicated that the chipmaker's shift to higher-margin data-centre business was gaining pace.

In the energy market, USA crude rose 0.89 percent to $66.09 per barrel and Brent was last at $70.47, up 0.07 percent on the day.

S&P 500 companies on average are expected to have increased their fourth-quarter earnings by 12.7 percent, according to Thomson Reuters I/B/E/S. Company earnings announcements over the last several days have signaled higher profits ahead, further cheering investors.

"You have manufacturing and the consumer doing well at the same time and the globe is doing better, so that's a path for future GDP gains, which has always provided a fertile backdrop for earnings gains", said Brent Schutte, chief investment strategist at Northwestern Mutual Wealth Management in Milwaukee.

European stocks (http://www.marketwatch.com/story/european-stocks-fall-to-1-week-low-as-all-eyes-on-ecb-2018-01-25) were little changed as traders braced for fresh policy signals from the European Central Bank, while most Asian markets closed lower.

Weakness in the dollar, which is supportive for large multinational companies, continued.

Enbridge Inc. lost 1.1 per cent to $47.05, while TransCanada Corp. fell 0.8 per cent to $57.24.

Milwaukee Bucks Dismiss Kidd After Recent Slide
Milwaukee sent Brooklyn two second-round picks in exchange for letting Kidd out of the final two years of his coaching deal. But the Bucks have lost four of five going into Monday and had been prone to defensive lapses especially on the perimeter.

The U.S. currency.DXY erased losses against a basket of major currencies after Trump told CNBC in an interview in Davos, Switzerland, that he wants to see a strong dollar.

The Dow Jones industrial average added 71 points, or 0.3 percent, to 26,464.

For the week, the Dow rose 2.08 percent, the S&P 500 gained 2.22 percent and the Nasdaq advanced 2.31 percent.

Dow e-minis were up 52 points, or 0.2 percent, with 33,013 contracts changing hands.

The U.S economy reported a growth 2.6 percent in the 4 quarter of 2017.

Declining issues outnumbered advancers on the NYSE by 1,449 to 1,301. The Nasdaq gained 94 points, or 1.3 percent, to 7,505.

In a weekly note on capital flows, Bank of America Merrill Lynch analysts said that 98 percent of global equity markets are now trading above 50 and 200-day moving averages, though the pace of the melt-up meant a correction was now increasingly likely.



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