Dow opens less than 2% shy of a record as easing trade tensions buoy stock market
Tuesday, 28 August 2018 20:47 WIB |
MARKET UPDATE |DOW JONESS & P 500 Standard & Poor's 500Saham ASNasdaq
U.S. stocks opened in record territory Tuesday as lingering optimism, following progress toward a U.S.-Mexico trade pact to revise the North American Free Trade Agreement, boosted investor sentiment.
The Dow Jones Industrial Average climbed 64 points, or 0.2%, at 26,119, less than 2% shy of the blue-chip gauge's record put in on Jan. 26 at 26,616.71. The S&P 500 index advanced 0.2% at 2,901, while the Nasdaq Composite Index rose 0.3% at 8,037.
The indexes traded at intraday records at Tuesday's open. The S&P 500, the Nasdaq, and small-capitalization Russell 2000 index all booked back-to-back records on Monday.
In corporate news, Tiffany & Co. reported second-quarter revenue that topped analyst forecasts, along with same-store sales growth that was stronger than expected, while Best Buy Co Inc. reported adjusted second-quarter earnings and revenue that topped expectations. It also gave a downbeat third-quarter earnings outlook.