Tags: dow | hits | 16000

Dow Hits 16,000 for First Time

Image: Dow Hits 16,000 for First Time

Monday, 18 Nov 2013 10:21 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

The Dow and S&P 500 blasted to new records in early trade Monday fueled by a wave of new Boeing plane orders and continued positive investor sentiment for stocks.

After 90 minutes of trade, the Dow Jones Industrial Average was up 51.92 points (0.33 percent) at 16,013.62, after crossing the 16,000 milestone for the first time.

The broad-based S&P 500 made its first foray above 1,800, adding 1.96 (0.11 percent) at 1,800.14.

Editor's Note: What the Bible Says About Investing (Shocking)

The tech-rich Nasdaq Composite Index rose 2.66 (0.07 percent) to 3,988.62.

The biggest gainer in the Dow was Boeing (+2.4 percent), which won more than $100 billion in new orders at the Dubai Airshow on Sunday.

The pair of index landmarks followed last week's series of records. On Friday, the Dow and the S&P 500 closed at record highs after Federal Reserve Vice Chair Janet Yellen, nominated to become Fed chair, delivered a strong defense of the central bank's easing policies at a Senate panel confirmation hearing the prior day.

Many analysts expect the markets will have a correction. "We don't know if the market is at, or very near, a top," said Briefing.com analyst Patrick O'Hare.O'Hare said. "When it seems so easy to make money in the stock market, though, is often the time the market delivers a reminder that it's a not a risk-free environment."

Dow component General Electric advanced 0.9 percent after announcing $26 billion in new jet engine orders at the Dubai Airshow.

JPMorgan Chase, another Dow component, rose 1.9 percent after announcing a $4.5 billion settlement Friday to compensate 21 institutional investors for losses on mortgage securities it and Bear Stearns sold before the financial crisis.

Tyson Foods increased 2.6 percent after earnings bested expectations by a penny at 70 cents per share and the company achieved annual sales growth of 4 percent after forecasting a range of 3-4 percent growth.

Bond prices rose. The yield on the 10-year US Treasury fell to 2.67 percent from 2.71 percent Friday, while the 30-year dropped to 3.77 percent from 3.80 percent. Bond prices and yields move inversely.

Alert: End of America's Middle Class a Startling Reality. Read More Here.

 


© AFP 2014

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Kerry Extends Gaza Talks as Israel, Hamas Accept 12-Hour Cease Fire

Friday, 25 Jul 2014 19:13 PM

Secretary of State John Kerry said the search for a lasting cease-fire in Gaza will extend into the weekend, as Israel a . . .

Solar Storm Could Cause Major Blackout on Earth

Friday, 25 Jul 2014 18:35 PM

Two years ago, Earth really lucked out. The New York Post reports that a series of massive solar flares just missed Eart . . .

Members of Congress Push PP on Abortion Quota Allegations

Friday, 25 Jul 2014 17:21 PM

Members of Congress are calling for answers after a former Planned Parenthood employee alleged the organization has quot . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved