Dow notches 9th straight record close

Traffic Jam

The last time the Dow had nine straight record closes was in February when it boasted 12 in a row.

Tokyo stocks opened slightly higher on Tuesday, as investor sentiment was bolstered by the Dow Jones Industrial Average closing at a fresh record high overnight for the ninth successive day.

Apple rose 1.4 percent, and Wal-Mart climbed 1 percent.

Avis Budget Group fell 5.84% as the auto rental company's second-quarter profit missed expectations and the company cut its full-year profit view. Pioneer Natural Resources gave up 4.2 percent.

Another consumer stock to look forward to is Tyson Foods Inc.; it manages to increase by tremendous 5.7% after revenues topped forecasts on recent quarter performance report. The stock manages to soar by a whopping 28% after the announcement from the German-based Fresenius Medical Care Ag & Co.; they said that they are going acquire NxStage for around $2 billion in an effort to boost its kidney dialysis business. The Nasdaq Composite Index enjoyed the best daily gain of its peers, up 0.5% at 6,383, logging the best advance for the technology-focused index since July 18, according to FactSet data. The company manages to take the lead in biggest gainers amongst consumer staples stocks.

The price of oil fell 1.4 percent, sending energy companies lower.

Ten of the 11 major S&P sectors were lower, with the healthcare index's 0.35% fall leading the decliners.

The Standard & Poor's 500 index was unchanged at 2,476.

The Dow Jones industrial average lost 39 points, or 0.2 percent, to 22,079.

The S&P 500 has risen about 11 percent in 2017 despite investors losing confidence in President Donald Trump's ability to legislate his pro-growth agenda of tax cuts and infrastructure spending this year.

Related:

Comments

Other news