Dow, S&P 500, Nasdaq surge to records on strong earnings

Dow S&P 500 end at records following strong earnings 26 january 2018

Strong earnings from Intel and other companies drove Wall Street indexes to record closing highs on Friday, while the US dollar remained weak after recent comments by the US Treasury secretary.

The Dow Jones is up over 56 points at 26,308, the S&P 500 is up 0.41 at 2,837 and the Nasdaq is up 1.18 at 7,416. The gained 0.6 percent, with tech and health care as the best-performing sectors, and also reached an all-time high. Those also reported high values.

The dollar index, which measures the greenback against a basket of six major currencies, was down 0.44 percent at 89.002, and on track for its worst weekly performance since May.

Among those companies that reported high earnings were AbbVie, Honeywell, Rockwell and Intel.

A notable company loser in early deals was consumer goods group Newell Brands Inc (NYSE:NWL), which saw shares tank in NY as it emerged that it was mulling strategic options for the group, which could see its customer base cut in half.

Caterpillar shares rose 3.8 percent in the premarket after the company released its fourth-quarter results.

France Is Officially Shutting All Coal-Fired Power Plants in Three Years
About his country, Macron said France is at the core of Europe. "Those who don't want to move forwards should not block the most ambitious in the room".

In a weekly note on capital flows, Bank of America Merrill Lynch analysts said that 98 per cent of global equity markets are now trading above 50- and 200-day moving averages, though the pace of the melt-up meant a correction was increasingly likely. Rockwell advanced 1.5 percent.

This happens to be the best and strongest work of 2018 so far in the stock market.

As of Thursday, 77 per cent of the S&P 500 companies that had reported surpassed earnings expectations, while 79 per cent of those companies had beaten sales estimates, according to U.S. financial information company FactSet.

The S&P 500 is up 165.64 points, or 6.2 percent.

Starbucks (SBUX.O) fell 4.3 percent after it warned 2018 global cafe sales growth would be at the low end of its forecast. A Reuters poll of economists had forecast the economy expanding at a 3.0 percent.

"The dollar move has attracted lot of attention for the right reasons, it's a pretty important driver right now for other assets", said Peter Cecchini, managing director and chief market strategist at Cantor Fitzgerald in NY. As we advance more into 2018, we can expect the market to sustain similar trends as it did this Friday.

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