Economy

Dow Jones Industrial Average Briefly Hits 23000

Dow Jones Industrial Average Briefly Hits 23000”

Stocks boosting the blue-chip index included insurer UnitedHealth and Johnson & Johnson, which reported better-than-expected earnings.

Near 03:15 p.m. GMT, the Dow Jones Industrial Average was at 22,996.57, up 0.2 percent from Monday's closing price, after earlier hitting 23,002.20.

Meanwhile, traders were digesting the latest remarks from the Federal Reserve Chair Janet Yellen. Seven of the 11 major S&P indexes were lower, led by a 0.39 percent drop in industrials and material index.

NASDAQ measures a number of indices reflecting the reaction of USA's high tech markets and business environments on the country's political and economic developments which have an impact on high tech markets.

The former Fed board member is seen as more hawkish than Yellen and other names being considered to take over the central bank.

Shares of Netflix inched down 0.08 percent around mid-session on Monday.

Technology stocks .SPLRCT were also down, led by a 0.33 percent fall in Apple, a day after it gained 1.5 percent.

US video streaming giant Netflix is expected to release its third-quarter earnings report on Monday after the closing bell. "What you're seeing is some hesitancy but not any major declines".

Declining issues outnumbered advancers on the NYSE by 1,311 to 1,158.



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