S&P 500, Nasdaq hit record highs after upbeat retail results
S&P 500, Nasdaq hit record highs after upbeat retail results
27 May, 2017, 01:21
Electronics retailerBest Buy had a stellar trading day, surging 21.5 per cent after posting better-than-expected quarterly results.
The S&P 500 rose for a sixth straight day on Thursday, its longest streak since February.
The S&P 500index showed 84 new 52-week highs and nine new lows, while the Nasdaq recorded 118 new highs and 44 new lows.
At 12:32 p.m. ET (1632 GMT) the Dow Jones Industrial Average was down 9.32 points, or 0.04 percent, at 21,073.63, the S&P 500 was down 0.22 points, or 0.00 percent, at 2,414.85.
The U.S. dollar's lacklustre performance comes in part from doubts about whether the U.S. Federal Reserve will raise rates at its June meeting, as well as economic conditions not showing enough acceleration, he said.
USA shares started the day higher with software analytics firm Intuit (NYSE:INTU) shares the top riser on S&P 500.
US crude prices plummeted as much as 5.7 percent to $48.45 a barrel, their lowest level in a week after OPEC agreed to extend output cuts for nine more months, dousing hopes for deeper, longer cuts. They showed policymakers view an interest rate hike coming soon, but that they agreed to hold off until it was clear a recent slowdown in the economy was temporary.
USA stocks rose on Thursday, with the S&P 500 and Nasdaq Composite scaling new highs, buoyed by strong earnings reports from the embattled retailer sector.
About 6.4 billion shares changed hands on US exchanges, below the 6.8 billion daily average for the past 20 trading days, according to Thomson Reuters data.
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The Nasdaq climbed 4.94 (+0.08 percent) to close at 6,210.19, and the S&P 500 finished at 2,415.82, up 0.75 (+0.03 percent) from its open.
USA crude slipped somewhat- down 0.31% to $51.31 a barrel, ahead of tomorrow's OPEC meeting in Austria.
Limiting gains, the S&P energy index was down 1.9 percent following a drop in crude oil prices.
"The minutes, while leaving the door open for another rate hike weren't as hawkish as some investors had been expecting - there had been speculation ahead of time that hawkish tones could be quite supportive for the dollar", said Alexandra Russell-Oliver, currency analyst at Caxton FX in London. The index hit an all-time high of 6,209.05.
That was reinforced by the jobless claims data, which showed that claims rose less than expected last week and the four-week moving average of claims fell to a 44-year low.
On the Big Board, advancers exceeded decliners by just 1.1-to-1, and on the Nasdaq, advancers led by 1.2-to-1.
NASDAQ measures a number of indices reflecting the reaction of USA's high tech markets and business environments on the country's political and economic developments which have an impact on high tech markets.
The week in a seemingly endless onslaught of news about chaos coming from within the White House shows no signs of slowing down. That investigation includes examining whether there was any collusion between the campaigns and the Russian government.
More than $800 billion dollars will be cut from medicaid which is a government program that helps many, and not just the poor . But many other Republican lawmakers, seeing a budget they think will be tough to sell back home, greeted it warily.
As he tried to reach the front of the group, Montenegro's Prime Minister Dusko Markovic was standing in his way. Trump neither apologized nor paid attention to the European leader after he barged past him.
After visiting Muslim leaders in Saudi Arabia and sacred sites in Jerusalem, Donald Trump made his way to the Vatican. Also greeting the pope after the private meeting were Ivanka Trump and her husband Jared Kushner .
With their loss to Boston in Game 3, the Cavaliers saw a 13-game SU win streak during the playoffs come to a close . "It happens. Indeed, Cleveland missed 15-of-17 long-range shots in the second half after nailing 14-of-22 in the first and second quarters.
The campaign that has come under fire from global organizations, Western democracies, and human rights organizations. Trump also told the Philippine president, "We can't let a madman with nuclear weapons on the loose like that".
Gianforte campaign spokesman Shane Scanlon said in a statement that Jacobs declined to lower his recorder when asked. Politics wasn't my regular beat, but with only seven news reporters on the staff, we all did a bit of everything.
It was good to get a run-out and obviously make my first appearance of the season after a long, long injury. I have until Saturday to decide [about a formation change]. "I owe this to this team and to this club".
On an online messenger system, Choi told Reuters , "He said he and his colleagues were running tests for ransomware attacks ". The Sony Pictures hack in 2014 and another attack on a Bangladesh bank in 2016 have both been attributed to the Lazarus.
Is President Trump Back On Defensive With Germany
It's not the first time Trump has taken aim at Germany's trade success. "Trade is going to be a big topic". US President Donald Trump is angry, very angry at the Germans, as they are apparently " bad, very bad! ".
Korea calls S. Korea's border firing reckless provocation
In 2014, South Korean officials discovered what they described as several North Korean drones that had flown across the border. South Korean media said that over 90 rounds were fired at the object before it disappeared from South Korea's radar screens.
23 million more uninsured with GOP health bill, analysts say
Some senators have suggested their preference to write a new bill, rather than working to amend the American Health Care Act . The report could give talking points to House Republicans for their bill, or to Democrats who voted unanimously against it.
Trump meets with Abbas in West Bank
Back in Jerusalem , Trump gave a speech at the Israel Museum , where he said "my administration will always stand with Israel ". Before Trump , no sitting president had ever visited the religious site, likely due to questions over the status of Jerusalem .
James passes Jordan, Cavs back in Finals with 135-102 win
In the last four minutes and 50 seconds of the third quarter, Cleveland turned a three-point deficit into a seven-point lead. Celtics: Injured point guard Isaiah Thomas led his teammates in a pregame huddle before they took the court for warmups.
Arsenal must ensure Sanchez, Ozil stay, says Cech
The 2016/17 season has been the most productive season of his career having scored 29 goals in all competitions. "I think their behaviour let Arsenal down in that period", said Keown, speaking on BT Sport.
Gritty Celtics stun Cavaliers to reduce series deficit
He's a passionate player, but seldom is it on display in as outwardly a fashion as it was following their Game 3 victory. Bradley admitted Friday's lopsided loss left a sour taste in his mouth. "Wide-open look", Bradley said.