Dow's Ninth Straight Record Close Marks Best Streak In 30 Years

Toppy Dow marks another record high leaves other tickers in the shade as oil rallies
Chesapeake is one of the oil stocks rallying
Author

24 February, 2017

(NVDA) and Tesla Inc.(TSLA) The tech sector fell 0.4%, looking to snap a 13-day winning streak, the longest such streak ever for the Technology Select Sector SPDR ETF (XLK). It was also the Dow's first ten-day winning streak in almost four years. Eastern time. The Standard & Poor's 500 index lost 2 points, or 0.1 percent, to 2,363.

Popeyes Louisiana Kitchen jumped 19 percent to $78.80 after Restaurant Brands agreed to acquire the quick-service restaurant chain for $1.8 billion. Bristol-Myers stock has plunged as investors worry that its lung cancer drug Opdivo will lose sales to other treatments.

The S&P 500's technology index has gained ground every day in February and is up 10% this year.

The markets may benefit from recent upward momentum, which has helped propel the major averages to new record highs. The company forecast greater costs, and it also took $970 million in charges that are related to expenses at a mine it is closing. That has brought that index to its highest level since July 2000.

Oil prices surged 2 percent on Thursday after data showed a surprise decline in USA inventories, suggesting a global oversupply maybe be ending. Brent crude, the standard for pricing worldwide oils, fell 34 cents to $55.84 a barrel in London.

After Charleston, Roof went toward second AME church, docs say
Roof carried out his attack at Emanuel AME Church on Wednesday night, June 17, 2015. Like Emanuel, the Branch church was holding its weekly Bible study that night.


Dozens of headstones toppled at Jewish cemetery in Missouri
A University City police auto patrols in front of Chesed Shel Emeth Cemetery in University City, Mo., on Tuesday, Feb. 21, 2017. He then declared , "I am the least anti-Semitic person person that you've ever seen in your entire life".


Lindsay Lohan claims she was 'racially profiled' for wearing a headscarf
Lohan states that she was taken to task for wearing a headscarf and was only treated fairly after staff noticed her name. Lindsay Lohan has claimed she was "racially profiled" as she was flew into London from Turkey.


METALS: Gold slipped $5.60 to $1,233.30 an ounce. On the Nasdaq, 1,277 issues rose and 819 fell. Other homebuilders including Lennar and PulteGroup made smaller gains. Investors are eager to know if the Fed might speed up the pace of its interest rate increases.

Nvidia shares tumbled 8.5% after a round of bearish analyst comments prompted investors to take profits from the highflying chip maker, which has more than tripled over the past 12 months. Chair Janet Yellen said last week the Fed will likely need to raise rates at an upcoming meeting. Though higher rates tend to weigh on stocks, the Fed's confidence and broader optimism about the economy have buoyed markets. Another duo in merger talks, Verizon (VZ) and Yahoo (YHOO), both saw rises of 0.5% and 0.89% respectively as reports of their merger price dropping surfaced. The yield on the 10-year Treasury note fell to 2.42 percent form 2.43 percent.

Exxon Mobil gained one percent while Chevron added 0.6 per cent and ConocoPhillips rose 0.4 per cent. Against the euro, the dollar is valued at $1.0584 compared to yesterday's $1.0558. In France, the CAC 40 was little changed.

In Japan, the Nikkei 225 traded down 0.35%, while across the Korean Strait, the Kospi was fractionally lower at 2,106.


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