US open: Dow Industrials punches past 25,000 point mark
The Dow Jones Industrials is punching past the psychological 25,000 point mark for the first time ever, on the back of a bumper reading on one of the most widely-followed surveys of hiring conditions in the US.
At 1536 GMT, the Dow Jones Industrials Average was ahead by 0.61% or 149.79 points to 25,073.40, led by advances in IBM and Goldman Sachs, alongside a rise of 0.52% or 13.86 points for the S&P 500 to 2,726.88 and an increase of 0.36% or 25.65 points to 7,091.11 for the Nasdaq Composite.
On Wednesday, the S&P 500 rose above 2,700 for the first time, while the Dow and the Nasdaq both racked-up record closes.
From a sector standpoint, the best performing areas of the market were: Oil equipment and services (2.17%), Travel & Tourism (2.17%) and Computer services (1.78%).
Stoking buying interest, consultancy ADP reported a 250,000 person increase in private sector hiring Stateside during the month of December, niftily outpacing a consensus forecast for a 190,000 person jump.
Commenting on the market backdrop, David Madden, senior market analyst at CMC Markets, said: "The upbeat outlook from the Federal Reserve minutes last night has sent US stock to record highs. The Dow Jones has crossed the 25,000 mark and the S&P 500 and NASDAQ 100 have also registered fresh all-time highs. The minutes from the latest Fed meeting last night showed that US central bankers predict a tick up in economic activity from the tax reforms introduced by President Trump."
Perhaps, yet the US dollar spot index was again ceding ground, slipping 0.35% to 91.84, even as the yield on the benchmark 10-year US Treasury note edged up by three basis points to 2.48%.
In other economic news, initial jobless claims increased by 3,000 to 250,000 over the week ending on 30 December, according to the Department of Labor (consensus: 230,000).
Meanwhile, on the corporate front, electric car maker Tesla was in the red after saying late on Wednesday that it delivered fewer vehicles than expected in the fourth quarter and pushing back its production target for the Model 3.
Elsewhere, Intel Corp retreated after the technology company said on Wednesday that its chips have a security vulnerability that will require software patches.
Those of rival AMD on the other hand reacted with glee.
Shares of agricultural giant Monsanto were also in demand despite posting first quarter adjusted earnings per share of 41 cents cents on the back of $2.66bn in revenues, both of which were shy of analysts' forecasts.
The owner of Victoria's Secret, L Brands, plummeted after the firm lowered its guidance for its fourth quarter EPS to roughly $2.0, from a range of between $1.95 to $2.10.
Dow Jones - Risers
International Business Machines Corp. (IBM) $161.35 4.60%
Dowdupont Inc. (DWDP) $74.30 3.34%
General Electric Co. (GE) $18.41 2.39%
American Express Co. (AXP) $101.27 2.35%
Exxon Mobil Corp. (XOM) $86.79 2.07%
Visa Inc. (V) $116.77 1.97%
Unitedhealth Group Inc. (UNH) $225.26 1.85%
United Technologies Corp. (UTX) $130.46 1.79%
JP Morgan Chase & Co. (JPM) $109.74 1.66%
Goldman Sachs Group Inc. (GS) $258.89 1.26%
Dow Jones - Fallers
Intel Corp. (INTC) $43.15 -4.65%
Verizon Communications Inc. (VZ) $52.24 -2.41%
Nike Inc. (NKE) $62.88 -0.95%
Walt Disney Co. (DIS) $111.70 -0.09%
McDonald's Corp. (MCD) $173.40 0.10%
Boeing Co. (BA) $297.54 0.24%
Chevron Corp. (CVX) $128.03 0.35%
Wal-Mart Stores Inc. (WMT) $99.09 0.51%
Home Depot Inc. (HD) $189.04 0.53%
Apple Inc. (AAPL) $173.26 0.60%
S&P 500 - Risers
SCANA Corp. (SCG) $48.01 23.51%
Chipotle Mexican Grill Inc. (CMG) $307.14 4.84%
International Business Machines Corp. (IBM) $161.35 4.60%
Under Armour Inc. Class A (UAA) $15.68 4.32%
Moody's Corp. (MCO) $152.27 4.20%
Carmax Inc. (KMX) $67.44 4.14%
United Parcel Service Inc. (UPS) $128.70 4.07%
Sempra Energy (SRE) $109.52 3.96%
CVS Health Corp (CVS) $76.40 3.92%
Eaton Corporation plc (ETN) $81.82 3.75%
S&P 500 - Fallers
L Brands Inc (LB) $49.72 -16.98%
Macy's Inc. (M) $23.71 -9.88%
Kohls Corp. (KSS) $52.88 -6.16%
CenturyLink Inc. (CTL) $16.39 -5.86%
Nordstrom Inc. (JWN) $46.54 -5.25%
Gap Inc. (GPS) $32.10 -5.24%
Kroger Co. (KR) $26.89 -4.98%
Intel Corp. (INTC) $43.15 -4.65%
Tenet Healthcare Corp. (THC) $15.29 -4.38%
Best Buy Co. Inc. (BBY) $66.32 -4.11%
Nasdaq 100 - Risers
Workday, Inc. (WDAY) $109.56 4.17%
Cadence Design Systems Inc. (CDNS) $43.70 1.79%
Intuit Inc. (INTU) $161.99 1.77%
Hologic Inc. (HOLX) $44.24 1.74%
Idexx Laboratories Inc. (IDXX) $164.73 1.65%
Synopsys Inc. (SNPS) $88.42 1.56%
Adobe Systems Inc. (ADBE) $183.82 1.54%
Cognizant Technology Solutions Corp. (CTSH) $72.64 1.52%
Check Point Software Technologies Ltd. (CHKP) $106.62 1.34%
Micron Technology Inc. (MU) $45.57 1.31%
Nasdaq 100 - Fallers
Walgreens Boots Alliance, Inc. (WBA) $71.10 -5.84%
Intel Corp. (INTC) $43.15 -4.65%
Tesla Inc (TSLA) $307.40 -3.10%
Western Digital Corp. (WDC) $80.71 -2.37%
Incyte Corp. (INCY) $99.06 -1.90%
Regeneron Pharmaceuticals Inc. (REGN) $386.73 -1.79%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $240.93 -1.71%
Celgene Corp. (CELG) $107.34 -1.65%
Liberty Interactive Corporation QVC Group (QVCA) $25.07 -1.63%
Biomarin Pharmaceutical Inc. (BMRN) $90.69 -1.51%