Dow crosses 29,000 for first time -- but only briefly

Dow crosses 29,000 for first time -- but only briefly

Dow crosses 29,000 for first time -- but only briefly

The S&P 500 and Nasdaq each shed almost 0.3%. The S&P 500 returned a stellar 31.5 percent previous year even though earnings likely fell for big companies, and Sonders said investors will need to see profit growth in 2020 to help justify the records that stock prices are setting.

The House also passed a resolution to limit President Donald Trump's war powers against Tehran on Thursday, with many concerned about the prospect of another escalation of tensions.

"The December jobs report was a little softer than expected but not so much so as to stoke big worries about the U.S. consumer and the health of the overall economy", said Alec Young, the director of global markets research at FTSE Russell.

The US Labor Department said on Friday that non-farm payrolls increased by 145,000 jobs in December, short of the 160,000 economists had forecast.

Nine of the 11 primary S&P 500 sectors dropped at market closing, with financials down 0.78 per cent, leading the laggards.

No major corporate earnings were released on Friday.

USA markets have enjoyed a strong rally after the Fed cut interest rates three times past year. The S&P 500 and the Nasdaq also hit record highs in intraday trading before turning negative. Kohl's fell 6.5%, the largest loss in the S&P 500, after it reported weaker sales during the 2019 holiday season than in the same period in 2018. "What would make them raise rates is wage inflation close to 4%, and we're pretty far from that".

The yield on the 10-year Treasury slipped to 1.86% from 1.87%. The Trust seeks to provide investment results that, before expenses, generally correspond to the price and yields performance of the Dow Jones Industrial Average.

Six Flags Entertainment plunged 17.8 percent after the theme park operator warned investors that it may have to have to nix development plans in China after its partner in the country defaulted on payments. The Index is a float-adjusted market capitalization index created to measure the performance of publicly traded real estate securities in developed and emerging countries. Germany's DAX lost 0.1 percent.

Oil prices ditched 37 cents to $59.19 US a barrel. Brent crude, the global standard, fell 39 cents to $64.98 a barrel. Wholesale gasoline was little changed at $1.65 a gallon. Natural gas rose 3 cents to $2.17 per 1,000 cubic feet.

The dollar rose to 109.54 Japanese yen from 109.52 yen on Monday.

Related news



[an error occurred while processing the directive]