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Wall St ends up; Dow within a point of 20,000

Friday, January 06, 2017 - 01:22

The Dow came within one point of 20,000 for the first time ever, and the Nasdaq and S&P 500 hit record highs. Bobbi Rebell reports.

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The Dow coming within a point of 20,000 but failing to cross the benchmark. All the major U.S. indexes hitting record highs in the final trading day of the first week of 2017. For the week, the Dow rose one percent, the S&P 500 added 1.7 percent, the Nasdaq, actually the biggest star, with a gain of 2.6 percent. Keith Bliss of Cuttone & Co.: SOUNDBITE: KEITH BLISS, SENIOR VICE PRESIDENT, CUTTONE & CO. (ENGLISH) SAYING: "The Dow Jones Industrial Average is one of those hallmarks of American commerce and American capitalism that is the focus as well as the envy of most people around the world. So, every time we hit one of these big benchmarks, whether it is a thousand point move, which doesn't seem so significant anymore, but really in 5,000 move trenches, the rest of the world takes notice. Twenty thousand is one of those mythic levels that we thought we would never hit, and now we are coming ever so close to it. " One of the market drivers: Apple stock. Canada's Competition Bureau said it did not find sufficient evidence iPhone maker had engaged in anti-competitive conduct, closing a two-year investigation into the company. The government's December jobs report showed the economy added fewer-than-expected jobs last month but wages increased, suggesting resilience in the labor market. In Europe, stocks close out the week higher with the FTSE posting its 5th week of gains.

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Wall St ends up; Dow within a point of 20,000

Friday, January 06, 2017 - 01:22