US close: Markets continue run further into record territory
Markets in the US pushed further into record territory on Monday, as investors eyed a rate announcement from the Federal Reserve later in the week.
Dow Jones I.A.
38,085.80
04:30 15/10/20
Nasdaq 100
17,430.50
12:15 25/04/24
The Dow Jones Industrial Average was up 0.23% at 24,386.03, the S&P 500 added 0.32% to 2,659.99, and the Nasdaq 100 ended the session 0.78% higher at 6,393.89.
"The Dow Jones, S&P 500 and NASDAQ 100 are edging higher as the US indices appear to have shrugged off the negative sentiment that crept in at the start of the month,” said CMC Markets’ David Madden.
“2017 has been an impressive year for US equity benchmarks and we could see another round of record highs from the before the year is out.”
The Fed's rate announcement is scheduled for Wednesday, with the Bank of England and European Central Bank also due to announce their own latest policy decisions the following day.
Ahead of the US central bank's policy announcement, Gregory Daco, chief US economist at Oxford Economics, forecast America's gross domestic product would expand at a 2.7% pace in 2018, helped by fiscal stimulus - which would lift the rate of GDP growth by 0.3 percentage points.
Based on the above, and expectations for global GDP growth to pick-up from 2.9% in 2017 to 3.2% in 2018, Daco projected the Fed would hike interest rates three times over the course of the following year.
There was little in the way of fresh economic data out on Monday.
However, according to the Bureau of Labor Statistics, the number of job openings in the US fell by 181,000 in October to reach 5.996m, compared to consensus expectations for 6.09m.
“No doubt it's a disappointing figure, but we have to put it in context - the month before was revised up to a record high, so the fact that it came down from that level isn’t as disappointing as it might first appear,” said Marshall Glitter, chief economist at ACLS Global.
“Job openings still seem to be in an uptrend relative to the NFP figures - that is, there are still more and more jobs relative to the number of people being hired each month.
“That should eventually translate into higher wages.”
In corporate news, insurers such as Travelers Companies were in focus as wildfires in Southern California took their toll, with Travelers ending the day down 0.44%.
Dow Jones - Risers
Walt Disney Co. (DIS) $106.83 2.49%
Apple Inc. (AAPL) $172.67 1.95%
Verizon Communications Inc. (VZ) $51.84 1.47%
Merck & Co. Inc. (MRK) $56.34 1.39%
Pfizer Inc. (PFE) $36.21 1.32%
Microsoft Corp. (MSFT) $85.23 1.27%
Nike Inc. (NKE) $61.95 1.06%
Cisco Systems Inc. (CSCO) $37.96 0.93%
Intel Corp. (INTC) $43.66 0.72%
3M Co. (MMM) $239.30 0.49%
Dow Jones - Fallers
Boeing Co. (BA) $283.16 -0.96%
Home Depot Inc. (HD) $182.17 -0.63%
Unitedhealth Group Inc. (UNH) $222.76 -0.51%
Travelers Company Inc. (TRV) $133.18 -0.42%
General Electric Co. (GE) $17.65 -0.34%
JP Morgan Chase & Co. (JPM) $105.61 -0.29%
Visa Inc. (V) $112.38 -0.20%
Procter & Gamble Co. (PG) $90.24 -0.15%
Goldman Sachs Group Inc. (GS) $250.18 -0.09%
Caterpillar Inc. (CAT) $143.77 -0.06%
S&P 500 - Risers
CenturyLink Inc. (CTL) $15.87 8.18%
Southwestern Energy Co. (SWN) $5.81 5.83%
FMC Technologies Inc. (FTI) $28.59 4.53%
Symantec Corp. (SYMC) $29.22 4.43%
Chesapeake Energy Corp. (CHK) $3.83 4.08%
Range Resources Corp. (RRC) $16.71 3.92%
Mallinckrodt Plc Ordinary Shares (MNK) $23.15 3.77%
Newfield Exploration Co (NFX) $30.36 3.30%
Frontier Communications Co. (FTR) $10.06 3.18%
NRG Energy Inc. (NRG) $29.13 3.12%
S&P 500 - Fallers
SCANA Corp. (SCG) $42.38 -7.43%
Macerich Co (MAC) $63.27 -3.74%
Martin Marietta Mtrl (MLM) $208.71 -2.53%
Urban Outfitters Inc. (URBN) $32.27 -2.48%
Vulcan Materials Co. (VMC) $122.92 -2.35%
Alexion Pharmaceuticals Inc. (ALXN) $111.90 -2.24%
Newmont Mining Corp. (NEM) $34.67 -2.08%
Tapestry Inc. (TPR) $41.39 -2.06%
Zions Bancorporation (ZION) $49.94 -1.94%
Verisk Analytics Inc. (VRSK) $94.32 -1.91%
Nasdaq 100 - Risers
Biomarin Pharmaceutical Inc. (BMRN) $88.11 7.46%
NetEase Inc. Ads (NTES) $344.77 7.23%
Mercadolibre Inc. (MELI) $288.80 4.47%
Symantec Corp. (SYMC) $29.22 4.43%
Tesla Inc (TSLA) $328.91 4.37%
Wynn Resorts Ltd. (WYNN) $164.26 2.96%
Liberty Global plc Series C (LBTYK) $30.71 2.81%
Hologic Inc. (HOLX) $43.82 2.65%
Liberty Global plc Series A (LBTYA) $31.55 2.53%
Electronic Arts Inc. (EA) $107.92 2.52%
Nasdaq 100 - Fallers
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $216.14 -3.74%
Alexion Pharmaceuticals Inc. (ALXN) $111.90 -2.24%
Align Technology Inc. (ALGN) $233.66 -2.00%
Verisk Analytics Inc. (VRSK) $94.32 -1.91%
Illumina Inc. (ILMN) $214.11 -1.63%
Intuitive Surgical Inc. (ISRG) $373.55 -1.60%
O'Reilly Automotive Inc. (ORLY) $247.24 -1.53%
Dollar Tree Inc (DLTR) $107.07 -1.47%
Vertex Pharmaceuticals Inc. (VRTX) $141.68 -1.34%
Netflix Inc. (NFLX) $186.22 -1.23%