Tuesday, 17 October 2017

Dow Jones Industrial Average has risen above 23,000 milestone

The Dow Jones Industrial Average has risen above 23,000 points for the first time, helped by a set of strong corporate earnings.

The benchmark US share index rose 45 points to hit 23,002.20 in early trading on Wall Street, before easing back slightly.

It was boosted by healthcare firm UnitedHealth and drugs maker Johnson & Johnson raising their profit forecasts.

UnitedHealth shares rose 5% while Johnson & Johnson stock was 2% higher.

The Dow Jones, which tracks 30 of the biggest US listed companies, has hit new records several times over the last month on expectations of strong company profits and hopes that President Trump will win backing for his tax cut plan.
The two other main US stock indexes, the S&P 500 and the Nasdaq, were flat on Tuesday at 2,558 points and 6,628 respectively.

All three indexes closed at record highs on Monday.

Away from the healthcare sector, US bank Goldman Sachs was the biggest faller on Tuesday after reporting a 3% drop in quarterly profit.

Goldman Sachs shares fell nearly 2%, while its rival, Morgan Stanley rose 0.5% after posting a stronger-than-expected rise in profits.

Streaming service Netflix dropped by 1.7%, despite adding more subscribers than expected and reporting quarterly profits more than doubled to $129m (£98m).

BBC          News.

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