You are here
Dow hits record high
Stocks have shaken off last week’s Portuguese bank scare. The Dow is back above 17,000 and is once again at a record high. The Dow was up more than 115 points in afternoon trading after hitting a new peak of 17,085 at earlier in the session. The S&P 500 and Nasdaq are both up around 0.5 per cent for the day. The rally comes as Goldman Sachs released an upgraded target for the S&P 500. Analysts there now think the blue chip index will hit 2050 by year’s-end instead of 1900.
The S&P 500 has been hovering around 1980 all day.
Here are some other things to watch in the last bit of trading: Bank bump: Citigroup reported earnings that beat expectations despite a US$7 billion settlement with the federal government over mortgages it sold during the financial crisis. The stock is up about three per cent. Tech movers: Several well-known tech stocks were up big yesterday. In social media news, Facebook and Twitter both said that the World Cup smashed activity records: Facebook said the Germany vs Argentina championship game’s 281 million interactions made it the most talked-about sports event in the site’s history. Twitter said 618,725 tweets were getting sent every minute at the end of the match, a record for an event. Facebook shares were up 2.6 per cent and Twitter stock is trading 1.2 per cent higher. (CNN)
User comments posted on this website are the sole views and opinions of the comment writer and are not representative of Guardian Media Limited or its staff.
Guardian Media Limited accepts no liability and will not be held accountable for user comments.
Guardian Media Limited reserves the right to remove, to edit or to censor any comments.
Any content which is considered unsuitable, unlawful or offensive, includes personal details, advertises or promotes products, services or websites or repeats previous comments will be removed.