Dow Extends Gains to Fifth Straight Session

Modest gains on Wall Street sent the Dow Jones Industrial Average to its fifth consecutive advance on Wednesday, as market participants welcomed earnings and measured tone from the Federal Reserve Chairman Jerome Powell during his two-day congressional testimony.

Upbeat outlook for the economy from the Fed’s Beige Book also provided support for markets.

The S&P 500 rose 6.10 points, or 0.2%, to 2,815.65. The Dow Jones Industrial Average gained 79.54 points, or 0.3%, to 25,199.43. The Nasdaq Composite Index closed fractionally lower at 7,854.44.

Among the biggest gainers on the S&P 500, shares of Berkshire Hathaway rallied 5.3% after the conglomerate gave Chairman and Chief Executive Officer Warren Buffett more flexibility on when to buy back shares.

Source : Market Watch

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Hong Kong Stocks End Week With Gains (Review)

Hong Kong stocks ended a tough week with a small gain on Friday as traders tracked a record close on Wall Street, while there are hopes China and the United States can avoid escalating a potentially damaging trade war.

The Hang Seng Index gained 0.16 percent, or 44.61 points, to 28,525.44.

The benchmark Shanghai Composite Index lost 0.23 percent, or 6.48 points, to 2,831.18 but the Shenzhen Composite Index, which tracks stocks on China’s second exchange, rose 0.46 percent, or 7.28 points, to 1,604.45.

Source : AFP

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Dow retains grip on solid midday gains after 12 Russians indicted over hacking DNC servers

The Dow Jones Industrial Average midday Friday held on to solid gains after 12 Russian intelligence officers were indicted for hacking into the Democratic National Committee’s server.

The Dow was up 0.4% at 25,013, the S&P 500 index gained 0.1% at 2,802, while the Nasdaq Composite Index advanced 0.1% at 7,832, after hitting an intraday record earlier in the session.

All three benchmarks are on pace to post solid weekly returns, on the back of trade fears receding–at least momentarily–for stock-market investors. Friday’s indictment comes as Special Counsel Robert Mueller has been investigating interference by Russia into the 2016 presidential election won by Donald Trump.

Source : Marketwatch

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