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 since February.
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.