Dow hits 26000 mark for first time on earnings reports

Posted January 17, 2018

HEALTHY QUARTER: UnitedHealth Group gained 1.9 percent after its said earnings more than doubled in the final quarter of 2017.

UnitedHealth posted quarterly results that topped analyst estimates and raised its 2018 outlook, bolstering optimism for another solid quarter for corporate earnings. Eastern Time. The Dow Jones industrial average lost 11 points to 25,791.

The pan-European Stoxx 600 index ended flat, while euro zone stocks added 0.3 per cent as the euro gave up some of its strength against the dollar.

First Hawaiian Bank reduced its stake in shares of SPDR Dow Jones Industrial Average ETF (NYSEARCA:DIA) by 15.2% during the 4th quarter, HoldingsChannel.com reports.

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Losses by industrial and technology companies helped pull USA stocks mostly lower in late-afternoon trading Tuesday, placing the market on course for modest losses.

The S&P 500 gained 13.76 points, or 0.493856 percent, to 2,800. The Nasdaq shed 24 points, or 0.3 percent, to 7,236.

EARNINGS WATCH: Investors were watching for the impact of Washington's latest tax changes on USA companies as earnings season for the final quarter of 2017 gets into full swing. The institutional investor owned 2,273 shares of the exchange traded fund's stock after selling 409 shares during the period. CBS rose 77 cents, or 1.3 percent, to $59.60.

General Electric shares fell 3.7 percent after the industrial conglomerate said it would record a $6.2 billion charge in the fourth quarter as part of an ongoing review of its finance arm's insurance portfolio. Viacom fell $1.80 to $31.96.

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The energy sector fell 1.2 percent as Brent crude oil shed some of its recent gains, falling almost $1 per barrel.

The top gainer on Hang Seng was Hong Kong Exchanges and Clearing Ltd up 5.43 per cent, while the biggest loser was AAC Technologies Holdings Inc which was down 3.66 per cent. Seven of 11 S&P sectors made gains led by real estate up +1.36% and health care +0.74%.

Benchmark 10-year notes last rose 2/32 in price to yield 2.5462 percent, from 2.552 percent late on Friday.

The U.S. stock and bond markets were closed on Monday in observance of Martin Luther King Jr. The gains for the MSCI index marked its third consecutive record. But sterling fell following the data release, boosting the FTSE 100 into positive territory.

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