Thursday, August 24, 2017
HomeNewsEconomyDow Jones, Nasdaq Hit Record Highs With S&P Close Behind

Dow Jones, Nasdaq Hit Record Highs With S&P Close Behind

NYSE-Traders-Reuters
NYSE-Traders-Reuters

NYSE traders digest data on the floor of the exchange. (Photo: REUTERS)

The Dow Jones Industrial Average (INDEXDJX:.DJI) and the Nasdaq Composite (INDEXNASDAQ:.IXIC) hit record highs at the open on Tuesday.

The Dow opened to 20123.50 before tapering back off to 20,098.61, still up 46.19 or 0.23%. The Nasdaq opened at 5673.88 and continued to climb to 5,681.35, or 17.80 (0.31%) as of 11:39 AM EST. The S&P 500 was up 4.15 at 2,296.71, or 0.18%.

Investors are optimistic over corporate earnings but still evaluating whether the post-election gains on stock prices are justified. Fourth-quarter earnings are now estimated to have gained 8.1%, which is the largest increase in nine quarters.

“We’re a stone’s throw away from all-time highs and the market has been sitting in a relatively tight range, looking for a fresh theme to commit capital,” said Andre Bakhos, managing director at Janlyn Capital in Bernardsville, New Jersey.

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PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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