Dow Jones, S&P And Nasdaq Rally Following Trump's Joint Session Speech

Mar 03, 2017, 00:12
Dow Jones, S&P And Nasdaq Rally Following Trump's Joint Session Speech

The UK's FTSE 100 Index added 1.6% to close at a record high, Germany's DAX Index increased 2%, while France's CAC 40 Index strengthened 2.1%.

WALL STREET HIGHS: The Dow rose above 21,000 points for the first time on Wednesday in what was the biggest gain for the blue-chip index so far this year.

The Dow crossed the 19,000, 20,000 and now 21,000 thresholds since 2016's Election Day, and if it finishes the trading day Wednesday above 21,000, it will signify a tie for the fastest thousand-point increase in its history.

The Nasdaq jumped 16.59 (+0.28 percent) to close at 5,861.90, while the S&P 500 finished at 2,369.73, up 2.39 (+0.10 percent) from its open.

USA stocks powered to fresh records on Wednesday (March 1), with the Dow topping 21,000 for the first time, after President Donald Trump struck a more conciliatory note in a major address Tuesday night. President Trump's pledge for $1 trillion on infrastructural spending and massive tax relief for the middle class strengthened optimism in the USA economy. The promises have helped send USA stock benchmarks to records, but Trump offered little by way of detail.

JPMorgan Chase rose 2.6 percent and Goldman Sachs rose 2.1 percent, the biggest increases in the Dow. The S&P 500 also rose 0.1% to close at 2,369.73.

But some in the market still warned not to read too much into Mr Trump's speech and to remain cautious of abrupt policy announcements and fresh uncertainty that could rock markets. Australia's S&P/ASX 200 slipped 0.1 percent at 5,704.80.

The South Korean market is closed for a public holiday.

Several energy companies fell along with the price of natural gas.

On Tuesday, New York Fed President William Dudley said the case for tightening monetary policy had become "a lot more compelling", according to Reuters.

Benchmark U.S. crude veered lower after heading higher earlier in the day.

BUILD IT: Lowe's climbed 9.1 percent after the home-improvement retailer's latest quarterly earnings and outlook beat Wall Street's forecasts.

Crude oil prices were flat at about $54 a barrel. The S&P is up about 10.5 percent since the November 8 election. Brent crude, which is used to price global oils, was down 16 cents, or 0.3 percent, at $56.35 a barrel in London.

The dollar was up 0.46% against the pound to 1.238 and 0.1% versus the euro to 1.0576 and was 0.1% stronger against the yen at 112.83.

YOU MIGHT ALSO LIKE
  • Suspect who cops say shot at pipeline killed after chase

    Suspect who cops say shot at pipeline killed after chase

    The suspect then opened fire at the trooper and deputies before he was fatally shot, the Florida Highway Patrol said . A man died in a shootout with deputies from the Citrus County Sheriff's Office and Florida State Troopers on Sunday.
    Telstra to launch LTE-Broadcast this year

    Telstra to launch LTE-Broadcast this year

    Telstra and Ericsson have announced they will be deploying a Cat M1 Internet of Things (IoT) network throughout Australia, with trials now taking place in Melbourne and Tasmania.

    NASA launch postponed due to steering issues

    SpaceX's Falcon 9 rocket successfully lifted off from a NASA launchpad that was once used by Apollo astronauts. It was the first SpaceX launch from Florida since a Falcon 9 exploded on a launch pad on September 1, 2016.
  • 'People's Court' Judge Joseph Wapner Dead at 97

    'People's Court' Judge Joseph Wapner Dead at 97

    Wapner leaves behind two other children and a wife, Mickey, whom he married in 1946 at the age of 27. Wapner died at home in his sleep Sunday, Feb. 26, 2017, according to his son, David Wapner.
    Martin Scorsese film 'The Irishman' headed to Netflix, report says

    Martin Scorsese film 'The Irishman' headed to Netflix, report says

    The source also remarks Netflix handling the film instead of Paramount ensures Scorsese "can make the project he wants". Now, however, seven years after the film was announced, The Irishman has found a worldwide buyer in Netflix .

    DC panda fans sad as Bao Bao leaves for China

    Bao Bao, who now weighs around 200lbs (90kg), has been a central attraction at the national zoo since her birth in August 2013. She'll be in quarrantine for approximately 30 days at the China Conservation and Research Center Dujiangyan Panda Base .
  • Severe storm chances linger into evening hours

    The storms are moving in from the west, this evening, some of which will be capable of damaging winds and isolated tornadoes. Along with tornadoes, damaging winds in excess of 60 miles per hour will be a threat, along with large hail and heavy rain.
    Bomb threat phoned into Jewish Community Center, center was

    Bomb threat phoned into Jewish Community Center, center was "safely evacuated"

    The Jewish Community Center in Albuquerque was evacuated Monday morning after it received a bomb threat via telephone. The facility was last evacuated January 31, following a "non-credible" threat, and then reopened later the same day.

    Friends and family gather together to say final goodbyes to Delphi teens

    Private family services for Libby were held at Delphi United Methodist Church on Sunday, Feb. 19 starting at 2 p.m. On Saturday, a large crowd filled Delphi Community High School for a memorial honoring the two girls.
  • Russia Ceases Bombing US Allies in Syria After Deconfliction Call - Coalition

    Russia Ceases Bombing US Allies in Syria After Deconfliction Call - Coalition

    Townsend said the U.S.is still talking to Turkey about whether and how Turkish forces might be involved in an assault on Raqqa. He referred to the Syrian forces to disclose the number and extent of the casualties.
    Swedes Stumped By Swedish 'National Security Adviser' On Fox

    Swedes Stumped By Swedish 'National Security Adviser' On Fox

    Fox News's "The O'Reilly Factor" this week featured a guest with inaccurate credentials, The Washington Post reported Saturday. The network said O'Reilly was expected to address the subject further on Monday's show.

    President's Day 2017: Best Funny Memes About Nearly Every US President

    The weather was rough enough to force the cancellation of one of two scheduled "Not My Presidents Day" rallies in San Francisco. Pennington County Republicans rallied directly across the street from those opposing President Donald Trump.
popular