Dow soars to open above 23000 for the first time

Peter Castro
October 21, 2017

"Right now, you're contending with earnings season and the fact that the market has run up leading up into the earnings season", Pavlik said.

"The DJIA pulled back for multiple weeks after first touching 20,000, 21,000 and 22,000".

The Dow Jones is up 26 percent since Trump's election in November 2016.

"Looks like it's set for a good start, largely driven by strong earnings and positive economic growth", said Scott Brown, chief economist at Raymond James in St. Petersburg, Florida.

Johnson & Johnson (JNJ.N), up 3.4 percent, also posted better-than-expected results and raised its forecast, leading a 1.3 percent gain in the S&P healthcare sector.SPXHC.

Canada's main stock index lost ground today, while US stock markets hit new records with the Dow Jones sailing past the 23,000 mark.

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At 9:38 a.m. ET (1338 GMT), the Dow Jones Industrial Average was up 116.49 points, or 0.51 percent, at 23,113.93, the S&P 500 was up 3.7 points, or 0.14 percent, at 2,563.06 and the Nasdaq Composite was up 6.91 points, or 0.10 percent, at 6,630.57. Since then, Caterpillar Inc CAT.N has been the largest percentage gainer within the index, with a more than 15 percent increase, while Boeing Co BA.N has contributed the most to the index's gain with close to 140 points.

Technology index's 0.22 percent rise, led by gains in IBM, was the biggest boost to the S&P index.

Netflix (NFLX.O) slipped 1.6 percent after touching a record high as more subscribers signed up for its original content in the latest quarter.

More than 80pc of firms which have reported this earnings season beat analyst expectations on the bottom line. The stock ended the regular session down 0.2 percent at $146.54.

About 5.5 billion shares changed hands on US exchanges.

Advancing issues outnumbered decliners on the NYSE by 1,434 to 1,358.

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