Dow Jones continues record run

THE DOW JONES Industrial Average continued with its record run yesterday, after breaching the 20 000 milestone a day earlier. The S&P and Nasdaq also hit record levels immediately after opening, before easing off their highs. Earnings are expected to show growth of 6.8 percent in the fourth quarter, their biggest increase in two years. Of the 104 S&P 500 companies that have reported results so far, nearly 70 percent have topped expectations. “Today is about earnings and part of the Dow reaching the 20 000 milestone is because of strong earnings,” said Peter Cardillo, chief market economist at First Standard Financial in New York. “Sure, Trump’s initiatives have been an element in the rise but the fundamentals of the market remain strong.” The S&P 500 and the Nasdaq Composite indexes also closed at record highs for the second consecutive session on Wednesday. – Reuters