19 000


Finweek English Edition - - THE WEEK -

On 22 Novem­ber the Dow Jones In­dus­trial Av­er­age closed above 19 000 for the first time in history, driven by higher oil prices, ex­pec­ta­tions of tax cuts and in­creased gov­ern­ment spend­ing by the in­com­ing Trump ad­min­is­tra­tion, and the end of a five-quar­ter profit slump from Amer­i­can com­pa­nies, ft.com and Bloomberg re­ported. Other US stock in­dexes also ral­lied, with the S&P 500 and the Nas­daq Com­pos­ite set­ting new highs. “The mar­ket is a lot more sure of it­self now,” Heinz-Gerd Son­nen­schein, eq­uity strate­gist at Deutsche Post­bank AG, told Bloomberg. “There are strong signs that the US econ­omy is in good shape and that bodes well for cor­po­rate earn­ings.”

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.