Published: Thu, October 19, 2017
IT | By Jonathon Greene

Dow Jones hits new intra-day high

Dow Jones hits new intra-day high

The Dow Jones Industrial Average added 40.48 points or 0.18 per cent to 22,997.44. The S&P 500 popped 4.3 points to 2563.66 and the Nasdaq gained 8.83 points to 6,632.48.

Record closes for all three major indices on Wednesday, including a new milestone for the Dow Jones Industrial Average, despite a poor month for new home starts.

The Dow Jones, which tracks 30 of the biggest United States listed companies, has hit new records several times over the last month on expectations of strong company profits and hopes that President Donald Trump will win backing for his tax cut plan.

"Announcements by the European Central Bank next week and decision by the Fed in December will probably have a higher impact on whether or not we continue this rally".

"The U.S. economic fundamentals are pretty good". The report, due at 2:00 p.m. ET (1800 GMT), will likely show if inflation pressures are accelerating.

The Toronto Stock Exchange's S&P/TSX composite index was down 34.74 points to 15,782.16.

The Dow has notched 66 record highs in that time.

Financial stocks .SPSY gained 0.54 percent, tracking a surge in USA treasury yields.

Abbott rose 1.3 percent after the company's profit beat estimates on strong sales in its medical devices business.

Advancing issues outnumbered decliners on the NYSE by 1,374 to 1,351.

USA housing starts fell by 4.7% month-on-month in September to reach an annualised pace of 1.127m, according to the Department of Commerce.

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