Intel lifts S&P, Dow to new highs; Starbucks weighs on Nasdaq

27 January, 2018, 15:43 | Author: Darnell Patrick
  • US dollar

The Dow is up 321.07 points, or 1.2 percent. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, fell by 3.3 basis points to 2.621%.

The Nasdaq composite slipped 3.89 points to 7,411.16.

In the energy market, oil prices settled higher, with crude also posting a weekly gain as the weaker dollar underpinned prices.

The Dow Jones Industrial Average rose 77.92 points, or 0.3 percent, to 26,470.71, the S&P 500 gained 13.42 points, or 0.47 percent, to 2,852.67 and the Nasdaq Composite added 42.01 points, or 0.57 percent, to 7,453.17.

Utilities (+1.5%), health care (+0.9%) and telecom services (+0.7%) finished at the top of today's sector standings, while energy (-0.8%) was easily the weakest as WTI crude oil reversed recent gains to settle 0.2% lower at $65.51/bbl following a sharp upward move in the US dollar. On the Nasdaq, 1,454 issues rose and 1,312 fell. American Airlines lost 2.9 percent. For the week, Brent posted a almost 2.7 percent gain, while US crude was up 4.3 percent for the week.

Buoyed by AbbVie, the S&P healthcare index.SPXHC gained 2.17 percent, scored its best day since November 2016 and was the best performer among the 11 major S&P sectors.

Bond prices turned higher.

Stocks are opening broadly higher as technology companies recover after sliding a day earlier.


"It's non-stop positive reinforcement that keeps pushing the market up", said Frank Davis, director of sales and trading at LEK Securities in NY.

Among those companies that reported high earnings were AbbVie, Honeywell, Rockwell and Intel.

U.S. Treasury Secretary Steven Mnuchin's endorsement of a weak dollar, triggered a slide in the currency that helped prop up the indexes.

The financials group, which accounts for more than one-third of the TSX's weight, was the lone declining group, slipping just over 0.1 per cent as shares of some of the country's major banks declined.

Drugmaker AbbVie rose 6.4 percent after its results also came in ahead of expectations.

The Dow Jones Industrial Average and S&P 500 closed at their highest levels ever on Thursday although Wall Street relinquished bigger gains after President Donald Trump said he wants a strong dollar.

U.S. Treasury yields climbed after the U.S. GDP data and after the governor of the Bank of Japan said inflation is finally close to reaching the central bank's 2 percent target.

Recommended:

  • Does Bgeo Group (LON:BGEO) Look Attractive Now? Berenberg Bank Initiates Coverage

    Does Bgeo Group (LON:BGEO) Look Attractive Now? Berenberg Bank Initiates Coverage

    Among 7 analysts covering Bank of Georgia Holdings PLC (LON:BGEO), 4 have Buy rating, 0 Sell and 3 Hold. Segall Bryant & Hamill Ltd Liability has invested 0.01% of its portfolio in EQT Corporation (NYSE:EQT).
    Prince William sports newly shaved head on royal visit

    Prince William sports newly shaved head on royal visit

    The royal stepped out on Thursday to meet with military veterans who are working with Britain's National Health Service. And now Prince William has chose to have a bit of a makeover - although his latest look has left the internet divided.
    The New 'Nintendo Labo' Will Allow Gamers To Custom Build Accessories

    The New 'Nintendo Labo' Will Allow Gamers To Custom Build Accessories

    In another instance, the player docks their Switch faces the TV screen and uses the Robot Kit to punch enemies or constructions. A Google cardboard kit is only assembled once, it doesn't have moving parts, and it still gets worn and tattered pretty fast.
  • Germany's SPD backs talks with Merkel's party

    Germany's SPD backs talks with Merkel's party

    In 1998 she was quoted as saying: "I don't want to be a half-dead wreck when I leave politics". "Then there's another way". Investors are bracing for the outcome, with the euro forecast to drop if the SPD bows out.
    California pair starved kids until they stopped growing

    California pair starved kids until they stopped growing

    Investigators went to the house and freed the children, prompting days of investigations that led to a series of charges Thursday. But, ultimately, whatever happens to Louise and David Turpin, their children must somehow move on and carry on with their lives.
    Ben Stokes cleared to play by European Central Bank

    Ben Stokes cleared to play by European Central Bank

    England all-rounder Ben Stokes is "raring to go" after being made available for selection again, says head coach Trevor Bayliss. The suspension on Stokes was lifted following the England and Wales Cricket Board ( ECB ) meeting on Wednesday.
  • Apple Books makeover has Amazon in its sights

    Apple Books makeover has Amazon in its sights

    Before that, Zafar was a content vice president at Barnes & Noble's Nook e-reader division, according to his LinkedIn profile . Department of Justice fined the company $450 million as part of an antitrust lawsuit that involved five major publishers.
    Microsoft unveils $200 Windows 10 laptops for schools

    Microsoft unveils $200 Windows 10 laptops for schools

    Microsoft also announced two analogous systems (at the same USA prices) from JP, its big partner in emerging economies. The company will roll out a new Chemistry update for Minecraft: Education Edition this spring.
    Ravi Shastri's message to BCCI: Need more practice days on overseas tours

    Ravi Shastri's message to BCCI: Need more practice days on overseas tours

    Irrespective of whether you are playing at home or outside. "In these conditions, you will get out playing too many shots". Meanwhile, Indian captain Virat Kohli believes his side is still the best in the world when it comes to Test cricket.
  • MSU president resigns following Nassar sentencing

    MSU president resigns following Nassar sentencing

    Former Spartan athletes are among the more than 150 women and girls who have spoken over the last week at Nassar's sentencing . The police recommended criminal charges against Nassar, but the Ingham County Prosecutor's Office dismissed the case.
    Last-ditch effort to end tussle fails, Karni Sena refuses to budge

    Last-ditch effort to end tussle fails, Karni Sena refuses to budge

    On Tuesday, the Supreme Court refused to modify its order, rejecting pleas filed by Rajasthan and Madhya Pradesh governments. Rajput Karni Sena activists in Bihar on Tuesday forced cinema hall owners to stop advance booking for the film.
    Demonetised notes worth Rs 100 crore seized from residential premises in Kanpur

    Demonetised notes worth Rs 100 crore seized from residential premises in Kanpur

    According to NIA official, the currency may belong to four to five individuals or the leading detergent maker. Earlier, the NIA had recovered Rs 36.34 crore in demonetised currency in Delhi in November previous year .


Popular

Major payments firm to stop accepting bitcoin
On Tuesday, however, product manager Tom Karlo announced that the company will be winding down support for bitcoin payments. We may also think of steller if its use continues to grow while Bitcoin Cash and light coin would also be highly considered.

Ugandan President Backs Trump's 'Shithole' Comments: 'He Speaks to Africans Frankly'
Trump reportedly used the language at a private White House meeting on January 12, which led to condemnation around the world. He has denied using that language while others present says he did.

Xbox Game Pass first-party release day availability also works on PC
Still, this new initiative from Microsoft is very generous and will entice more people to play games digitally from now on. It's always been a neat little extra, but as of this week it's evolving into something much more useful.

Tottenham player ratings at Southampton
Obviously this is the attitude we need to show in the next game [at home to Brighton and Hove Albion] - it's massive for us. Mauricio Pochettino confirmed as much after the match, stating: "Players were affected last week but that's no excuse".

Rory McIlroy, Phil Mickelson move in opposite directions in 2018 season debuts
"Whenever you've had a long period off, you always sort of plan for a bit of rust", Fleetwood said of McIlroy. Fleetwood could break into the world's top ten for the first time when the rankings are announced today.

SF Meeting Set To Confirm McDonald As Next Party Leader
This morning Mary Lou McDonald officially became the next President of Sinn Fein , she officially takes over on February 10th. Gerry Adams has been the president of the party since 1983 but in 2017, announced he would be resigning from his post.

Ohio State, Holtmann take streak to NY
Don't tell his players, though. "I'm disappointed", Collins said. "Our approach every day in practice, our approach pregame". To put that in some other perspective, when Meanwell did it for the Badgers, the Big Ten was actually called the Big Nine.

Global shares track weakness on Wall Street; China shares higher
Building materials group CRH fell 0.6 per cent to €30.19, while food company Kerry was down 0.4 per cent at €89.50. For the final three quarters of this year earnings growth is expected to be close to 15 percent.

Bitcoin dives below $10000 with a 50% decrease in value
Shutting down digital currency exchanges is "a live option, but government ministries need to very seriously review it", he said. That said, like Bitcoin, it is still way up in value compared to this time a year ago when Ethereum was valued at $8.

Facebook selfie showing murder weapon leads to killer
After sentencing Antoine, Judge Marilyn Gray told her, "Honor your friend by becoming a positive member of the community". But police by then were already doubting Antoine's explanation to them of what occurred that night.