Dow opens above 24000 for first time

01 Décembre, 2017, 02:50 | Auteur: Auguste Feret
  • Dow opens above 24000 for first time

Traders in Chicago celebrate on New Year's Eve 2004.

Kroger is surging after earnings.

USA stocks ended higher on Thursday, with the Dow Jones Industrial Average closing above 24,000 points for the first time ever, as investors were optimistic about the prospects for a tax reform plan. REUTERS/Brendan McDermidRepublican U.S. Senator John McCain said he would back the tax bill, adding it would boost the economy and provide tax relief for all Americans. The US Senate Budget Committee on Tuesday approved the Republican tax bill to overhaul the US tax code, sending it to the Senate floor for a vote. The Dow gave back 65 points to slip to 23092.

"The market is pushing higher as the tax reform gets closer to becoming a reality".

But Jack Ablin, chief investment officer at BMO Private Bank, cautioned that lowering corporate taxes "would not be as big a boon to large companies as it would be to small companies".

At 12:31 p.m. ET (1731 GMT), the Dow Jones Industrial Average.DJI was up 279.87 points, or 1.17 percent, at 24,220.55 and the S&P 500.SPX was up 25.4 points, or 0.97 percent, at 2,651.47.

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The Nasdaq jumped just under one percent, ending the session at 6,873.97 - 49.63 higher than it opened.

Tech heavyweights such as Apple and Facebook, hit worst in Wednesday's sell-off, boosted the indexes on Thursday.

The Russell 2000 gained 24.98 points, or 1.6 percent.

Data that pointed to a sustained increase in underlying price pressures and a drop in first-time applications for unemployment benefits last week also helped sentiment.

Advancing issues outnumbered declining ones on the NYSE by a 1.41-to-1 ratio; on Nasdaq, a 1.13-to-1 ratio favoured advancers.


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