stocks rose Wednesday--with the Standard & Poor's 500 briefly topping 3,000 for the first time and the Dow industrials
and Nasdaq also reaching record highs.
For the third time in recent months, the Dow transports fell to their lowest level compared to the Dow industrials
since 2012, according to Refinitiv data, another indication of the stocks' struggles.
The Dow Industrials
(DIA) and Russell 2000 (IWM) also saw notable outflows.
The potential for a government shutdown did little to dissuade national markets from their upward march as the trading session Friday and was the first week that the Dow industrials
closed above 26,000.
New Delhi: The stock markets closed at record high on Friday on positive trend seen in the Asian markets after the Dow Industrials
on the Wall Street broke above the 25,000 level for the first time overnight.
On the other hand, S and P 500 and Dow industrials
closed at all-time highs in Wall Street on Tuesday.
The Dow Industrials
breached the 22,000 mark for the first time ever on Wednesday, boosted by a rally in Apple's shares.
The first December trading session on Wall Street saw more mixed activity, as the Dow Industrials
improved 68.35, to 19,191.93 and the Nasdaq Composite index sank 72.57, to 5,251.11.
US stocks also increased on the heels of the largest two-day gain for the Dow industrials
Pfizer shares weighed on the Dow industrials
after the drugmaker posted lower-than-expected quarterly earnings and revenue, and trimmed its full-year profit outlook.
A 1997 academic paper authored by economists from Yale and NYU found that "timing strategies based upon the Dow Theory yield high Sharpe ratios and positive alphas." According to Morningstar Commodity Data, there have been only three instances in history when the Dow industrials
had a negative year after the Dow transportation index had performed well in the first two months of the year.
stocks labored Tuesday, with the Dow industrials
extending their win streak to a fourth day but other indexes falling, as investors weighed a lengthening list of companies reporting surprisingly strong results against a decline in consumer confidence.