Dow tops 23000-mark for the first time on strong earnings

Boeing shed 0.4 per cent following news that archrival Airbus took a stake in an airliner program of Canadian plane manufacturer Bombardier that had been mired in a US-Canada trade dispute.

The Standard & Poor’s 500 index gained 1.7 points to 2,559.

Netflix sank 1.4 percent as investors anxious about its mounting spending on programming. The two biggest of them were Johnson & Johnson, up 2.2 percent and United Healthcare, which surged 4.9 percent.

The Dow Jones Industrial Average rose 40.48 points (0.18 per cent) to 22,997.44, after earlier hitting 23,002.20.

Goldman projected the S&P 500 would fall to 2,400 without tax reform, but could rise to 2,650 if the plan is enacted.

In an interview with NPR last week, Stanley Fischer, who recently stepped down as the Federal Reserve vice chairman, said that despite record highs in the stock market – boosted by the Fed’s low interest rates – he doesn’t see a bubble.

Industrial companies and banks fell more than the rest of the market Tuesday.

Netflix sank 1.7 percent as investors anxious about its mounting spending on programming.

The blue-chip index has surpassed four similar 1,000-point milestones this year, indicating investor faith in the bull-run despite lofty stock valuations. The Dow Jones industrial average rose 0.1%.

The U.S. stock market opened mixed Tuesday after the release of macroeconomic data.

The US blue chip index was also lifted by Johnson & Johnson, which posted better-than-expected earnings, driven by its pharmaceutical business and recent acquisitions of biotech companies. Netflix sank 1.4 percent as investors anxious about its mounting borrowing and spending on programming.

Back in November a year ago, when Donald Trump was elected US President, the Dow was almost at 19,000 points.

The Shanghai Composite Index was down 6.43 points at 3,372.04 and Tokyo’s Nikkei 225 gained 0.38 per cent to 21,336.12.

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