Markets

Earnings lift Wall St. to record highs; dollar fall continues

Earnings lift Wall St. to record highs; dollar fall continues

US stock indexes started higher on Friday as the Dow and the S&P 500 were on track to set record high closes.

The three main indexes notched their best four-week run since 2016.

The financials group, which accounts for more than one-third of the TSX's weight, was the lone declining group, slipping just over 0.1 per cent as shares of some of the country's major banks declined.

The Standard & Poor's 500 index rose 9 points, or 0.3 percent, to 2,848.

Utilities (+1.5%), health care (+0.9%) and telecom services (+0.7%) finished at the top of today's sector standings, while energy (-0.8%) was easily the weakest as WTI crude oil reversed recent gains to settle 0.2% lower at $65.51/bbl following a sharp upward move in the USA dollar.

At the closing bell, the Dow Jones Industrial Average was at 26,609.99, up 0.8 percent for its third straight record.

Gross domestic product increased at a 2.6 percent annual rate in the fourth quarter, the Commerce Department said in its advance GDP report.

Edmund: I can win Australian Open
But he did so calmly and impressively, before digging himself out of a 0/30 hole in his next service game in similar fashion. Next up, in uncharted territory, will be the victor of the upcoming blockbuster of Nick Kyrgios against Grigor Dimitrov .


The results of Intel and some other companies helped investors shrug off weaker-than-expected US economic growth data. The S&P 500 .SPX gained 15.76 points, or 0.56 percent, to 2,855.01.

Fourth-quarter earnings growth for the S&P 500 is now estimated at 13.2 per cent, according to Thomson Reuters data, up from 12 percent at the start of the year. The Nasdaq gained 94 points, or 1.3 percent, to 7,505.

Spot gold XAU= was up 0.3 percent at $1,351.86, up 1.5 percent this week.

Benchmark 10-year notes last fell 14/32 in price to yield 2.6711 percent, from 2.621 percent late on Thursday.

The Russell 2000 index of smaller-company stocks added 2.06 points, or 0.1 percent, to 1,601.67.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.64 percent.


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