US Stocks Hit Records As Dow Flirts With 20,000 Points
Umer Jamshaid 4 years ago Sat 07th January 2017 | 10:45 AM
NEW YORK, Jan 7 (UrduPoint / Pakistan Point News - 07th Jan, 2017 ) - US stocks finished the week on a strong note with both the S&P 500 and Nasdaq closing at new records, bolstered by strong gains by large technology shares.
Wall Street also made its most audacious run yet at the 20,000-point milestone for the Dow Jones Industrial Average. The blue-chip index got to within 0.37 of a point at one stage Friday before retreating.
Earlier, European equities finished modestly higher, while the Nikkei in Japan dipped. US stocks were mixed in early trading after the closely-watched employment report showed the US economy added 156,000 jobs in December, slightly below expectations.
00, up 10 cents from the prior month. After a sluggish start, Wall Street investors found their mojo at mid-session, vaulting all three indices sharply higher and repeatedly taking the Dow to within 10 points of 20,000.
The surge appeared to be the result of underlying sentiment rather than a news trigger. Investors remain upbeat about the US economy in the aftermath of the elections, which raised expectations that President-elect Donald Trump will enact a pro-growth agenda, said Jack Ablin, chief investment officer at BMO Private Bank. "I think it was just bullish sentiment," Ablin said.