Congratulations America

[superbeets]

[h=1]Dow surpasses 19,000 for the first time EVER, with three other major US indexes closing at all-time highs sparked by Donald Trump's shock win[/h]

• The Dow jumped 67.18 points, or 0.4% to close at record high of 19,023.87
• Nasdaq composite, S&P 500, and Russell 2000 all closed at record highs
• Many have attributed post-election boost to Trump's win
• Discount store chains are posting big gains while health care companies are slumping

By ASSOCIATED PRESS
PUBLISHED: 19:58, 22 November 2016 | UPDATED: 23:40, 22 November 2016

 

[superbeets]

The Dow Jones industrial average closed above the 19,000 mark for the first time in its 120-year history on Tuesday.
All four major market indexes in the US closed at record highs for the second day in a row in a post-election boost sparked by Trump's win.
Discount store chains are leading the way with big gains while health care companies are slumping after weak earnings from medical device maker Medtronic.

 

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The Dow Jones industrial average closed above the 19,000 mark for the first time in its 120-year history on Tuesday

 

[superbeets]

The Dow picked up 67.18 points, or 0.4 percent to close at record high of 19,023.87.
The Standard & Poor's 500 index inched up 4.76 points, or 0.22 percent, to 2,202.94, while the Nasdaq composite gained 17.49 points, or 0.33 percent, to 5,386.35.
The Russell 2000 gained 0.54 percent to 1329.37, for the 13th straight gain in a row - its longest since a 15-day stretch in 1996.
While indexes are setting records, trading volume is far lighter than it was shortly after the presidential election two weeks ago.
But markets have been on the uptick in the past two weeks, and Donald Trump's win may signal a boon for Wall Street, with promises of corporate tax cuts and deregulation.
Robert Pavlik, chief market strategist at Boston Private Wealth in New York, said the rally that started in financials and industrials just after the election is spreading to other sectors.

Donald Trump's win may signal a boon for Wall Street (pictured Tuesday)

'You're seeing some strength across the board. That's a healthy sign and indicates to me that we're in a bull market,' he said.
'The market started to give up some gains last week, but that didn't increase selling pressure. It actually drew people back in.'
It remains to be seen whether the markets will sustain strong earnings once Trump is in office.
But Don Luskin at the investment firm TrendMacro told USA Today: 'Whatever else the future holds, Trump has already made the U.S. stock market great again.'
Shoppers continued to flock to discount stores, with Dollar Tree raising its profit and sales forecasts after the chain reported solid results in the third quarter. It jumped $6.69, or 8.16per cent to $88.68.
Burlington Stores also raised its outlook after it posted a larger profit than analysts expected.
Other retailers like Signet Jewelers, Urban Outfitters and Target also rose as consumer stocks reached to all-time highs.

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Shoppers continued to flock to discount stores, with Dollar Tree raising its profit and sales forecasts after the chain reported solid results in the third quarter

Health care stocks, on the other hand, are still trading lower than they were at the start of this year.
Medical device maker Medtronic sank $6.98, or 8.66 percent, to $73.60 after it disclosed disappointing sales and cut its profit guidance.
Health care products giant Johnson & Johnson slid $2.26, or 1.97 percent, to $112.74 and Abbott Laboratories, which makes infant formula, drugs and medical devices, gave up $1.66, or 4.18 percent, to $38.10.
Matt Miksic, a medical device analyst for UBS, said some investors worried that Medtronic's results mean a lot of drug and medical device companies will face slower growth.
Miksic said Medtronic reported weak sales 'across pretty much every one of their categories in the U.S.'

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Robert Pavlik, chief market strategist, said there were signs of strength across the board with indications of a bull market

 

[superbeets]

This is just more proof Obama has done NOTHING for the economy or it's citizens..... Trump isn't even in office yet, and the markets glow.....TRUMP 2020

 

[superbeets]

US equities push further into record territory


Oil price and expectations of hefty US spending plan help drive European equities



YESTERDAY by: Robin Wigglesworth and Mamta Badkar in New York


Investors pushed US equity benchmarks deeper into record territory on Tuesday, as expectations of a hefty economic spending plan by the incoming Republican administration continued to lift markets.


The Dow Jones Industrial Average closed above 19,000 for the first time on record, while the S&P 500 finished the day 0.2 per cent higher at 2,202.94, aided by a rally in shares of retailers and telecoms.

Despite faltering briefly earlier in the day, Wall Street set a quartet of records for the second consecutive day, with all four of the country’s main equity indices closing at fresh peaks.

The strong showing from US stocks on Monday had helped power European stocks higher on Tuesday, with the benchmark Euro Stoxx 600 ending the day up 0.2 per cent at 341.02. European equities are up nearly 2 per cent since the US election.

Markets on both sides of the Atlantic have been helped by a rebound in crude prices, but the biggest reason for the recent rally on Wall Street has been speculation that Mr Trump will introduce a package of corporate tax cuts, infrastructure spending and a regulatory rollback for banks.

“The strength in oil has been at least somewhat helpful, but I would argue it is the overall fundamental backdrop that has primarily driven this move,” said Randy Frederick, a strategist at Charles Schwab.

European oil and gas companies are up 3.2 per cent over the past five days while the S&P energy sector, which was the biggest decliner on the S&P 500 in 2014 and 2015, is poised to be the best performer this year — up 18.7 per cent so far.

The rally in oil prices, that had been driven by expectations of an output cut deal between Opec producers when they meet in Vienna at the end of the month, cooled on Tuesday with Brent settling up 0.5 per cent at $49.12 a barrel, having climbed as high as $49.96 earlier in the day.

The Dow Jones Industrial Average, the oldest US equity gauge, and the Russell 2000index of smaller companies have hit a series of new highs since the November 8 election won by Donald Trump. The Dow climbed 0.4 per cent on the day, while the Russell 2000 advanced for the 13th straight day, rising 0.9 per cent.




The S&P 500, the country’s primary stock market benchmark, and the technology-focused Nasdaq Composite have taken longer to scale new peaks, but both managed the feat on Tuesday.

Nonetheless, some analysts and investors have warned that markets are getting overly optimistic, pointing out that the details, viability and timing of the new administration’s policies are uncertain, while many other policies, such as on trade, would be negative for the US economy.

“Financial markets have been enthralled by the prospect of reactivating fiscal policy under a Republican-led White House and Congress,” William Lee, Citi’s chief North American economist, noted over the weekend. “Nevertheless, there remains a very high level of uncertainty regarding the details of the fiscal package and its timetable for implementation.”

 

[Acebb]

[h=1]Dow hits new high of 19,000 as Trump rally continues[/h]

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