Riding High: Dow Jones Just Hit the 23000 Mark


Riding High: Dow Jones Just Hit the 23000 Mark

It took 54 trading days for the gauge to close above the next round-number milestone, representing the third fastest 1,000-point advance in history.

Shares of the largest USA health insurer UnitedHealth (UNH.N) touched a life intraday high and closed up 5.5 percent after the company reported a stronger-than-expected profit and raised its full-year earnings forecast.

In New York, the Dow Jones industrial average climbed 160.16 points to 23,157.60. The S&P 500 gained 1.72 points or 0.07 per cent to 2,559.36, Xinhua reported.

The Dow Jones is up 26 percent since Trump's election in November 2016. "It gave the Dow the boost to stay over 23,000", said Quincy Krosby, chief market strategist at Prudential Financial told Reuters.

Further support came from American banks, with Bank of America, Goldman Sachs and Wells Fargo all making gains, helping the Dow to hit new record highs. The Nasdaq rose less than one point to close at 6,624.

Investors are also awaiting the Fed's issue of the Beige Book, a periodic snapshot on the health of the USA economy. Shares of Anthem (ANTM.N) were up 1.9 percent, while shares of Tenet Healthcare (THC.N) were up 5.3 percent.

The Dow was last up 0.1 percent at 22,974.15.

Netflix (NFLX.O) slipped 1.6 percent after touching a record high as more subscribers signed up for its original content in the latest quarter. The stock ended the regular session down 0.2 percent at $146.54.

Despite Republicans being in control of all three houses of government in the USA, many are concerned that they will never be able to pass the legislation that Trump and other prominent lawmakers have promised.



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