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tiptrot.com November 24, 2017


Dow opens above 23000 on strong IBM results

20 October 2017, 12:10 | Deanna Wagner

Dow Jones hits record high, continues surge since Donald Trump was elected

Trader Peter Tuchman wears a Dow 23,000 hat after the Dow briefly traded above 23,000 on Tuesday. The Dow closed on Wednesday above the 23,000-point plateau for the first time

USA stocks opened lower on Thursday following a record-setting session when the Dow closed above 23,000 for the first time.

The Dow Jones Industrial Average breached the 23,000-mark for the first time on Tuesday, driven by strong earnings from UnitedHealth and Johnson & Johnson, but the S&P 500 was flat.

Strong earnings results from IBM propelled the Dow 114.49 points - or 0.5 percent - at the open, sending the index of 30 blue chip stocks to 23,111.93. Both the S&P 500 and the tech-heavy Nasdaq indices also hit fresh highs today. The Nasdaq Composite Index was down 0.35 points or 0.01 per cent to 6,623.66.

Health insurers, hospitals and other health care companies also rose as two leading lawmakers reached a deal on a plan that would extend federal payments to health insurers that President Donald Trump had blocked last week. JPMorgan was up 2.1 percent, while Bank of America was up 1.6 percent.


Fifty companies are to report quarterly results this week, the first full week of the third-quarter earnings season.

Technology index's 0.22 percent rise, led by gains in IBM, was the biggest boost to the S&P index.

IBM shares, meanwhile, were up 7.8 percent at $158.74 in early morning trades after the tech giant disclosed it benefited from the USA dollar falling against the euro. The gains were limited because of lingering damage from Hurricanes Harvey and Irma.

About 5.5 billion shares changed hands on USA exchanges. Copper fell 4 cents to $3.20 a pound.



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