Economy

Wall St flat as focus shifts to quarterly earnings

Wall St flat as focus shifts to quarterly earnings”

A woman walks past an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Thursday, July 13, 2017.

United States stocks rose on Thursday, with the Dow Jones Industrial Average (NYSEARCA:DIA) extending record highs ahead of a deluge of economic data and corporate earnings in the final session of the week.

The financial index .SPSY was the best performer among the 11 major S&P sectors, ending up 0.61 percent.

The S&P 500 healthcare index .SPXHC was up 0.09 percent, barely moving on news of U.S. Senate Majority Leader Mitch McConnell's unveiling of a revised healthcare bill. Prices consolidated at $45.99 a barrel, having gained 1.1%.

In overseas trading, stock markets across the Asia-Pacific region moved mostly higher during trading on Thursday. Target jumped 4.1 percent after raising its second-quarter forecasts. Many economists believe the Fed, which has raised rates three times since December, will increase rates one more time this year. "This is positive for the markets". The Dow Jones Industrial Average closed higher for a third-straight day, rising 20.95 points, or 0.1%, to finish at record 21,553.09, with shares of Wal-Mart Stores Inc. The average last set a record high on June 19.

E-mini NASDAQ-100 Index
Daily September E-mini NASDAQ-100 Index

Global equity markets rallied after Federal Reserve Chair Janet Yellen signaled a more gradual tightening of monetary policy than expected on Wednesday.

A Wall Street sign is pictured outside the New York Stock Exchange in New York, October 28, 2013.

Tiffany rose 1.9 percent as it named Alessandro Bogliolo, a veteran of the luxury industry, as its chief executive. The technology-laden Nasdaq Composite climbed 0.2% to end at 6,274.44.

Oil prices continued higher, with United States futures climbing $46.00 a barrel in intraday trade. It gained 22 cents, or 0.5 percent, to close at $47.74 per barrel in London.

On the currency front, the USA dollar is trading at 113.27 yen compared to the 113.17 yen it fetched at the close of NY trading on Wednesday. The euro rose to $1.1435 from $1.1413.



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