Another day, seemingly another milestone as the Dow Jones index pushes pass the 26,000 mark at finish on Wednesday powered by gains in technology, healthcare and consumer staples. Only three of the composite members made losses in trading on Wednesday. The Dow rose 322 points or +1.25% to finish at 26,115.65.
Running on enthusiasm the S&P 500 made it a ninth day of gains so far this year and the index closed up +0.94% to a record 2,802.56. NASDAQ also broke a barrier rising 75 points or +1.03% at 7,298.28. Among the tech beneficiaries of the day were manufacturer of semiconductor tools, ASML Holding, up +6.87%, after the company delivered an earnings beat. Intel was up +2.90%. IBM rose +2.93% and Microsoft was up +2.03%. Boeing led the Dow adding +4.73% and Wal-Mart was up +2.00%.
Apple also jumped +1.65%. The company announced it would contribute $350bn to the American economy over five years through channels of direct employment, spending and investment with domestic suppliers and manufacturers and the app economy. The repatriation tax payments of $38bn in what Apple called a "record tax payment". CEO, Tim Cook, said in a statement, "We have a deep sense of responsibility to give back to our country and the people who help make our success possible."
- Dow 26,115.65 +1.25%
- S&P 500 2,802.56 +0.94%
- NASDAQ 7,298.28 +1.03%
- Russell 2000 1,585.94 +0.82%
- NYSE Composite 13,352.90 +0.80%
- Gold $1,329.1 -0.61%
- Oil WTI $63.75 +0.24%
- 10-Year Treasury 2.572 -0.30bps
In other markets, crude nipped lower ahead of data reports due on Thursday from the Energy Information Agency and OPEC. On Friday, the International Energy Agency also releases its market report.
Crude futures were down with light sweet crude for February delivery down 0.2% to $63.63 a barrel. Benchmark, brent crude, remained unchanged at $69.15 a barrel.
The US Dollar Index edged up 0.39% to 90.76. The dollar lifted after the European Central Bank were worried about the rapid appreciation of the euro and that it could act as a brake on policy makers' ability to sustain inflation in the region.
Bitcoin keeps it interesting
Finally, to round off the round up, bitcoin's earlier plunge below $10,000 earlier today unsettled investors but recovery saw it rise up to $11,375 but the digital currency dropped to $10,981.20 at 21:34 UTC.
Falling below $10,000 heralded cries of bubbles bursting but other commentators thought it was a much needed correction from a sentiment-driven rally.
Former UK commercial secretary, Jim O'Neill, gives his view below on investing in the crytocurrency craze and particularly on authorities preventing the use of leverage for "those that are bold, imaginative or daft enough".