Posted on 01/16/2018 6:39:36 AM PST by Red Badger
DJIA crosses 26,000 for the first time Dollar rebounds after three-year low Bitcoin selloff accelerates
The Dow Jones Industrial Average crossed 26000 for the first time Tuesday, with U.S. stocks echoing broad-based gains in Europe and Asia-Pacific as they continued their speedy leap higher.
The Dow Jones Industrial Average climbed 221 points, or 0.9%, to 26025 shortly after the opening bell. The S&P 500 added 0.5%, and the Nasdaq Composite rose 0.7%. Meanwhile, the dollar rebounded from Monday’s three-year low.
Tuesday’s historic rise builds on the Dow’s 25% gain last year and its seemingly unstoppable climb to start 2018. The rally began in late 2016 as a bet on infrastructure spending, deregulation and tax cuts, but spent 2017 rising on the back of strong corporate earnings growth. The start of fourth-quarter reporting season, which many money managers expect will again exceed analyst expectations, has the potential to catapult the stock market even higher, some fund managers say.
A selloff in bitcoin accelerated in early European trading, with the cryptocurrency last 10.8% lower at $12,126.01, according to CoinDesk. Bitcoin was priced at $14,000 in early Asian trading and Tuesday’s drop came after China and South Korea moved in recent days to place restrictions on cryptocurrency trading.
The Stoxx Europe 600 added 0.3% in European afternoon trading, with the index’s industrial goods sector up 0.3% and its insurance sector up 0.7%.
The euro was down 0.3% against the dollar, which hit a new three-year low Monday.
That came despite the passage of a reform package through Greece’s parliament that moved Athens closer to an exit from its bailout program.
A stronger euro is seen as negative for Europe’s big exporters.
(Excerpt) Read more at wsj.com ...
Winning, and the tax cuts have barely even been in effect.
This is what happens when Trump dumps a huge amount of Obama-era regulations and gets a tax bill that helps the vast majority of Americans.
Hey, this must be all lies. The DIMs have said that their would be a collapse into an Armageddon if the tax bill was enacted and if President Trump was not impeached. The DIMs wouldn’t lie, would they?
This is nuts!!! One IRA portfolio has made $8,000 in 15 days. That is crazy.
Hillary is doing a fantastic job....oh wait....
.... TRUMP is a Racisssssssssss....
It could lose twice that in one hour.....................
Yet everything else on Earth is Trump’s fault.
As it was Bush’s fault before him.............
Bravo, President Trump.
What goes up
Must come down......
Party pooper.
Realist
“...with U.S. stocks echoing broad-based gains in Europe and Asia-Pacific as they continued their speedy leap higher.”
Wait...WHUT? A rising Tide (American Exceptionalism) raises ALL ships?
Who’d a thunk it? I thought America was EVIL, and we’re selfish and cruel and refuse to help anyone else across the globe, but ourselves!
*Rolleyes*
“what goes up”
Where is the ceiling? Assuming the NORKS don’t do something cataclysmic and the Trump economic train keeps rolling where will it be in 6 months?
“Oh, the humanity!”, Nancy Pelosi.
Not sure what the ceiling is. But whatever it is there will be corrections and bear markets. I’m glad it’s up but not counting on retiring on that money just yet
I remember being told to get out of the market when it was at 13000 because a collapse was imminent. I’m sure glad I stayed the course.
Stop listening to Jim Cramer.........................
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