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Don't call it a comeback... The Dow surging over 300 points on its way to reclaiming 26,000.
The market’s most recent gains have been powered in part by a sudden hunger for stocks among certain money managers and individual investors who have long been wary of the nearly nine-year bull market....
The Nasdaq Composite gained 1% to 7298.28, surpassing its inflation-adjusted high of 7269.89. In fact, the market has now gone in to "melt-up mode," according to Leuthold Group's Doug Ramsey. In a note today, he observes that the firms Major Trend Index, a measure of market momentum, dipped to 1.08, a level he calls mildly bullish.
Shares of Ford Motor Co. end at their lowest level since late November after the car maker presented a grim picture of its profit this year and its preliminary 2017 numbers fall short.
The latest milestone in the Dow came as optimism over earnings fueled a rally in U.S. stocks on Wednesday. The Dow closed at 26,115.65, up 1.3 percent. - The Dow, a price-weighted index, is up 4.2 percent since the Jan. 4 close, and up 5.6 percent since Dec. 31.
The latest milestone in the Dow came as optimism over earnings fuelled a rally in U.S. stocks on Wednesday. The Dow closed at 26,115.65, up 1.3 percent. - The Dow, a price-weighted index, is up 4.2 percent since the Jan. 4 close, and up 5.6 percent since Dec. 31.
Stocks had a huge day, sending the major indexes to new records. Shares of Juno Therapeutics soared following a buyout report, and Ford slumped on disappointing guidance.
U.S. stocks jumped on Wednesday and the Dow closed above 26,000 for the first time as investors' expectations for higher earnings lifted stocks across sectors. The Dow also hit an all-time high in intraday trading. The S&P 500 posted a record closing high.
The Dow industrials on Wednesday stage a late rally to end above 26,000 for the first time ever, knocking out another round-number milestone at a history-setting pace for blue chips.
Software and cloud growth are expected to be key in turning around several quarters of revenue declines at International Business Machines Corp. when Big Blue reports results on Thursday.