Wall St opens at record on strong earnings

Judith Bessette
Julho 27, 2017

Stocks were also driven by the US Federal Reserve's announcement that it would maintain interest rates at 1-1.25 percent.

The large-cap S&P 500 Index edged finished at 2,477.83, little changed from the previous close but enough for a new record high.

The Dow Jones industrial average gained 97.58 points, or 0.5 percent, to 21,711.01, and the Nasdaq composite rose 10.57 points, or 0.2 percent, to 6,422.75. In 3.30pm trading, the Standard & Poor's 500 Index inched 0.03 percent higher. Fed watchers took this to mean that the balance-sheet reduction program could be announced at the conclusion of the Federal Open Market Committee's next meeting in September. The Fed also said that inflation looks to remain below its target of 2 percent in the near term.

The benchmark 10-year yield traded at 2.3 percent while the two-year yield held around 1.363 percent. The maker of the Roomba robotic vacuum cleaner said that sales soared 23% in the second quarter of 2017 compared to the year-earlier quarter, and net income jumped by almost two-thirds.

Stocks have enjoyed steady gains this month, as upbeat quarterly earnings and expectations of continued low-rate stimulus drove bullish bets on Wall Street. On the Nasdaq, 1,212 issues rose and 943 fell.

Renho set to step down as DP president
Renho's name recognition as former model and anchorwoman helped her become party leader last September. After the defeat, Renho was quick to announce that she would remain as party leader.

"They were very balanced".

As for the TSX, it continues to struggle along, moving sideways at best.

Boeing jumped 10 percent, its biggest gain in nearly nine years. Wilson said he's noticed some particularly encouraging comments from companies about improvements they've seen in their European businesses. Coca-Cola and Ford also posted better-than-expected quarterly results.

Health care stocks moved lower as investors were disappointed with several profit reports or forecasts.

USA crude oil +0.8% at $48.29/bbl, up for the third session in a row and hitting an eight-week high, after the API reported a big draw of 10.2M barrels last night. It slipped 4 cents to $48.71 per barrel in electronic trading on the New York Mercantile Exchange after surging 86 cents, or 1.8 per cent, to $48.75 per barrel on Wednesday. Brent crude, the global standard, gained 77 cents to $50.97 per barrel.

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