Fri, 24 May 2019

Record-breaking performance on Wall St Tuesday

Lola Evans
24 Apr 2019, 07:23 GMT+10

NEW YORK, New York - It was an extraordinary day on Tuesday for U.S. markets with the dollar creaming other currencies, and two of the major stock indices hitting all-time highs.

Champagne corks popped as the Nasdaq and the Standard and Poor's 500 both closed higher than at any other time in history.

"Today was a very broadly representative day of the overall economy. That’s what’s driving the markets," Roth citing results from United Technologies Corp, Lockheed Martin Corp and Coca-Cola Co told the Reuters Thomson news agency Tuesday.

The Dow Jones Industrial Average also put in a strong performance, adding 145.34 points or 0.55% to 26,656.39.

"If the earnings season is as strong as we expect the next major signpost is the trade situation with China and getting that resolved."

The history-making Standard and Poor's 500 climbed 25.71 points or 0.88% to hit its record closing high of 2,933.68. They key index has now rised 17% this year.

The Nasdaq Composite did best of all, rising 105.56 points or 1.32% to hit its historic closing high of 8,120.82.

The U.S. dollar cruised higher, knocking the euro down to 1.1225 and the British pound to 1.2934 by the New York close Tuesday.

The Swiss franc fell to 1.0201. The Canadian dollar sank to 1.3430, while the Australian dollar dived to 0.7102. The New Zealand dollar weakened to 0.6657.

Only the Japapnese yen withstood the onslaught, but only to remain steady, there were no gains for the yen as it closed around 111.87 Tuesday.

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