Published: Fri, January 19, 2018
Global Media | By Garry Long

SPDR Dow Jones REIT ETF (RWR) Rises 0.79% for Jan 16

SPDR Dow Jones REIT ETF (RWR) Rises 0.79% for Jan 16

The Dow hit 26,000 in intraday trading on Tuesday, but dropped at the close.

Stocks are closing higher on Wall Street, sending the Dow Jones industrial average to its first close above 26,000 points.

The S&P 500 has been rising so quickly, it has already topped or matched some of the Wall Street analyst's year-end 2018 targets, The median target is now 2,975 for year-end, about a 6 percent gain from current levels.

Paper and packaging group Smurfit Kappa was among the climbers, adding 0.8 per cent to €28.92, while Bank of Ireland added 1.1 per cent to €7.97.

Shares were lower Wednesday in Asia after a flip-flop session on Wall Street, where the Dow industrial average ended nearly flat after backtracking from a broad rally earlier in the day. Australia's S&P/ASX 200 added 0.1 percent to 6,024.40 and South Korea's Kospi rose 0.4 percent to 2,524.62. And the junior bourse KOSDAQ too, was down over one-and-a-half percent at 886.

In the United Kingdom, the FTSE 100 dropped by about 13 points to 7,755.93, as European shares dipped slightly after strong gains in recent weeks.

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General Motors rose 2 per cent after the company said it expected earnings in 2018 to be largely flat, but that profits should pick up pace in 2019.

Morgan Stanley posted fourth-quarter earnings and revenue on Thursday that beat analyst expectations. But put into context the Dow has risen 4 percent or more over seven trading days 110 times since the market bottomed in March 2009.”.

USA crude is down 0.31% at the time of writing at US$63.77 a barrel. The digital currency fell 1.6 percent to $11,172, according to the tracking site CoinDesk. Against the euro, the dollar is valued at $1.2226 compared to last Friday's $1.2264.

On the currency front, the USA dollar is trading at 110.74 yen compared to the 110.54 yen it fetched at the close of NY trading on Friday. Many finance pros believe bitcoin is in a speculative bubble that could burst any time.

The energy sector fell 1.2 percent as Brent crude oil shed some of its recent gains, falling almost $1 per barrel. It fell 57 cents to $63.73 per barrel on Tuesday.

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