InstaForex InstaForex

Prime News

Wall Street Advanced as Nasdaq Hits Record Peak

U.S. equities climbed, with the Nasdaq finishing at a record high, as more companies reported quarterly results. Treasury Secretary Steven Mnuchin says the administration is finally close to a “major tax reform”.

The Dow Jones industrial average advanced 0.85 percent at 20,578.71, with American Express leading gains while Travelers lagged behind. The S&P 500 was up 0.76 at 2,355.84, as financials led seven sectors up and utilities underperformed. The Nasdaq composite gained 0.92 percent at 5,916.78.

American Express lifted equities higher, up by 5.9 percent, after posting a smaller-than-expected decline in quarterly profit.

CSX Corp rose 5.6 percent and was among those that outperformed on the S&P 500. The railroad posted a higher-than-expected quarterly net profit propelled by growing freight volumes and also said it plans to trim costs and raise profitability.

Philip Morris dropped 3.5 percent to $109.98 and weighed on the S&P the most, after the tobacco maker's first-quarter profit forecast fell short of estimates.

The SPDR S&P Regional Banking ETF (KRE) and the Bank ETF (KBE) climbed over 1.5 percent. Steel stocks were also caught in a bid after President Donald Trump said he told the Commerce Department to focus on an investigation over the effects of foreign steel products on U.S. national security. Shares of U.S. Steel soared over eight percent.
Recommend: Prime News
 
Citigroup Bolsters Buybacks, Dividends Beyond Estimates
28 Jun 2017, 23:21 UTC+00   
Views today: 1417 
Berkshire Close to Becoming BoA’s Majority Shareholder
28 Jun 2017, 23:44 UTC+00   
Views today: 1410 
US Stocks Advanced After Banks, Tech Sectors Surge
29 Jun 2017, 00:33 UTC+00   
Views today: 1399 
Sycamore to Acquire Staples for Around $6.9 Billion
29 Jun 2017, 01:55 UTC+00   
Views today: 1394 
Global Bonds Swivel as Investors Weigh in Central Banks’ Next...
29 Jun 2017, 00:42 UTC+00   
Views today: 1393 

All Prime news