Netflix tops $100 billion in market cap after better-than-expected results
U.S. stocks mostly rose on Tuesday, with major indexes inching up to record levels, a day after a partial shutdown of the government came to an end.
While the shutdown had only a limited effect on stocks, the end removed an element of political uncertainty from the market, allowing investors to focus more fully on corporate earnings, which have so far been strong, albeit with the variable of the recently passed tax law.
What are the main benchmarks doing?
The Dow Jones Industrial Average DJIA, -0.01% slid 18 points to 26,195. The S&P 500 index SPX, +0.22% rose 6 points, or 0.2%, to 2,839 and the Nasdaq Composite IndexCOMP, +0.71% climbed 41 points, or 0.6%, to 7,449.
All three hit records in early trading, the latest example of Wall Street’s seemingly unstoppable upward trend. The three indexes have enjoyed essentially uninterrupted gains throughout 2018.
What’s driving markets?
After U.S. markets closed on Monday, Congress passed a three-week funding measure that brought a halt to the three-day shutdown, with the bill then signed by President Donald Trump. The agreement keeps the government running up to Feb. 8, though underlying disagreements between the Republicans and the Democrats on immigration and other topics remain.
With that crisis averted for now, there is little to stop stocks from pushing out yet another set of records. Investors who have been buying stocks on the view that the economy is on an upswing were likely cheered by Monday’s…Read More