USA stock market hits new record high

by Garry Watts April 26, 2017, 8:43

"It took us many years to get back above 5,000 and now we're at 6,000".

The Nasdaq closed above 6,000 for the first time on Tuesday (Apr 25) following a round of mostly strong corporate earnings and ahead of the White House's long-awaited tax cut announcement on Wednesday.

The tech-heavy Nasdaq ended Tuesday with a 0.7 percent rise, up 42 points as part of a broad market rally that has pushed up stocks for the Dow Jones industrial average and the Standard & Poor's index as well.

US equities rose sharply on Tuesday as solid quarterly reports from several large-cap companies rolled through.

Of course the stock market in general has also been on a tear recently - the S&P 500 is up 20% over the last year, and the Russell 200 is up 30% over the past year.

Moto Z2 Play Press Render Leaked, Shows No Major Upgrades
Since the design of the Moto Z2 Play is nearly identical to the original phone, we would expect it to have a big battery as well. The Moto G4 Play comes with 16GB of inbuilt storage, which is expandable storage via microSD card (up to 128GB).

On the data front, the Conference Board's consumer confidence index fell to 120.3 in April from 124.9 the month earlier and slightly below the consensus forecast of 122.5. Le Pen and Macron are set to face off in a May 7 runoff, with Macron holding a sizable lead in early polling.

"The French vote and Trump's plan to slash corporate taxes to 15 per cent are two powerful forces that will still likely contribute to a positive trend as earnings prove to be better than expected", Peter Cardillo, chief market economist at First Standard Financial wrote in a note. Over the past four quarters, 71 per cent of the companies had beaten estimates.

AdvancePierre Foods Holdings climbed 9.74% after Tyson Foods said that it will by the company for $4.2bn.

The index had a previous high 5916.77737 on 04/20/2017.

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