Published: Sun, January 28, 2018
Markets | By Erika Turner

Dow futures leap 115 points on Caterpillar earnings

Dow futures leap 115 points on Caterpillar earnings

AbbVie (N:) rose 8.9 percent after reporting upbeat profit on strong sales for its blockbuster drug Humira.

Wynn Resorts plunged after The Wall Street Journal reported allegations of sexual assault and harassment by CEO Steve Wynn.

For the week, the Dow rose 2.08 percent, the S&P 500 gained 2.22 per cent and the Nasdaq advanced 2.31 per cent. The Nasdaq gained 94 points, or 1.3 percent, to 7,505. On the Nasdaq, 1,451 issues rose and 1,403 fell.

The dollar was on track for its worst week since May after comments from senior USA officials this week backing a weak currency. 3M also reported better-than-expected results, helping lift investor sentiment.

The financials group, which accounts for more than one-third of the TSX's weight, was the lone declining group, slipping just over 0.1 per cent as shares of some of the country's major banks declined.

The dollar index.DXY, which measures the greenback against a basket of six major currencies, was down 0.33 percent at 89.1 and on track for a weekly fall of 1.6 percent.

Trump booed at Davos for criticising 'fake' media
Without mentioning Trump by name, German Chancellor Angela Merkel evoked the build-up to the two world wars. Trump previously announced his decision to recognize Jerusalem as Israel's capital and to move the U.S.

Benchmark 10-year notes last fell 14/32 in price to yield 2.6711 percent, from 2.621 percent late on Thursday. On Thursday, the contract climbed to as high as $71.28, its highest since 2014.

USA stock index futures rose ahead of Wall Street's open Thursday as Caterpillar reported better-than-expected quarterly results.

Caterpillar shares rose 3.8 percent in the premarket after the company released its fourth-quarter results.

The S&P 500 is up 165.64 points, or 6.2 percent.

Intel's (O:) shares jumped more than 9 percent to their highest in nearly two decades, after strong results offered the clearest sign yet that its years-long effort to shift away from a slowing PC business was paying off.

The Dow Jones industrial average added 52 points, or 0.2 percent, to 26,440.

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