Wall Street posts records amid trade optimism; Boeing juices Dow | The Business Standard
Skip to main content
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
    • GOVT. Ad
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
The Business Standard

Friday
June 09, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
    • GOVT. Ad
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
FRIDAY, JUNE 09, 2023
Wall Street posts records amid trade optimism; Boeing juices Dow

Global Economy

Reuters
24 December, 2019, 09:15 am
Last modified: 24 December, 2019, 09:16 am

Related News

  • London Stock Exchange says Refinitiv costs and savings on track
  • London stocks falls as UK GDP slumps a record 9.9% in 2020
  • London protest on Phulbari Day demands delisting of GMC from London Stock Exchange
  • London Stock Exchange on track to close Refinitiv deal as income jumps
  • Bangla Bond receives 30 percent oversubscription in London

Wall Street posts records amid trade optimism; Boeing juices Dow

The S&P 500 notched a record closing high for a third straight session on Monday

Reuters
24 December, 2019, 09:15 am
Last modified: 24 December, 2019, 09:16 am
Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., December 17, 2019. REUTERS/Brendan McDermid
Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., December 17, 2019. REUTERS/Brendan McDermid

Wall Street's main indexes posted record closing highs on Monday after President Donald Trump said an initial US-China trade pact would be signed soon, while Boeing gave the Dow a big boost after the planemaker ousted its chief executive officer.

Boeing Co (BA.N) shares, which have a particularly big influence on the Dow Jones Industrial Average, gained 2.9% and also lifted the S&P 500 industrials sector .SPLRCI. CEO Dennis Muilenburg's exit followed a prolonged crisis in which Boeing halted production of its best-selling 737 MAX jetliner following two fatal crashes.

Trump over the weekend said the United States and China would "very shortly" sign their so-called Phase 1 trade pact, which was announced earlier this month and has helped propel the US stock market to records.

The S&P 500 notched a record closing high for a third straight session on Monday and hit an intraday all-time high for an eighth straight session. The Nasdaq closed at a record high for an eighth straight session.

"The stream of news has continued to favor the bullish bias, so there really hasn't been a reason for people to sell, and you've got that fear of missing out that has kind of kicked in the last month and a half," said Chuck Carlson, chief executive officer at Horizon Investment Services in Hammond, Indiana.

Additionally, China will lower tariffs on products ranging from frozen pork and avocado to some types of semiconductors next year.

"The key for businesses is that tariffs may not escalate further from this point," said Mona Mahajan, US investment strategist with Allianz Global Investors in New York. "That's critical for business confidence and the overall backdrop in which they're operating."

The Dow Jones Industrial Average .DJI rose 96.44 points, or 0.34%, to 28,551.53, the S&P 500 .SPX gained 2.79 points, or 0.09%, to 3,224.01 and the Nasdaq Composite .IXIC added 20.69 points, or 0.23%, to 8,945.65.

Energy .SPNY and industrials were the best-performing S&P 500 sectors, while utilities .SPLRCU lagged the most.

Trading volume is expected to be sparse in a trading week shortened by the Christmas holiday. On Monday, roughly 5.9 billion shares changed hands on US exchanges, well below the 7.2 billion daily average over the last 20 sessions.

The benchmark S&P 500 has climbed more than 28% so far in 2019, helped by improving investor sentiment over trade relations, interest rate cuts by the Federal Reserve and optimism the economy will avoid a severe downturn at least in the near term.

Data on Monday showed new orders for US-made capital goods barely rose in November and shipments fell, suggesting business investment will probably remain a drag on economic growth in the fourth quarter.

In other company news, Apache Corp (APA.N) shares soared 17.3% after it and French rival Total (TOTF.PA) announced a joint venture to develop a project off Suriname in a deal that gives the US oil and gas producer a cash injection.

Advancing issues outnumbered declining ones on the NYSE by a 1.23-to-1 ratio; on Nasdaq, a 1.07-to-1 ratio favored advancers.

The S&P 500 posted 47 new 52-week highs and no new lows; the Nasdaq Composite recorded 142 new highs and 37 new lows.

World+Biz / Top News

London Stock Exchange

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • From bumps to bumper: Farmers get golden A+
    From bumps to bumper: Farmers get golden A+
  • Illustration: Collected
    Trade deficit surges $1.1b in April despite fall in imports
  • Photo: Collected
    Fighting load-shedding: Commerce to allow on-credit coal import for $5m

MOST VIEWED

  • The Federal Reserve building is set against a blue sky in Washington, US, May 1, 2020. REUTERS/Kevin Lamarque
    Blink and you'll miss these interest-rate pauses
  • A currency trader counts Pakistani rupee notes as he prepares an exchange of dollars in Islamabad, Pakistan December 11, 2017. REUTERS/Caren Firouz/Files
    Pakistan failing in every economic index: key survey
  • Photo: Collected
    Pakistan needs convincing budget for any chance of more funds - IMF official
  • Photo: Collected
    Putin, Saudi crown prince discuss trade, economic ties: Kremlin
  • The Schuko manufacturing plant in Bad Laer, Germany, on 26 May. Photographer: Ben Kilb/Bloomberg
    Germany is running out of workers, putting growth in jeopardy
  • People walk outside shops at the Atrium Mall in Karachi, Pakistan, January 3, 2023. REUTERS/Akhtar Soomro
    Pak govt mulls to close shops by 8pm, again

Related News

  • London Stock Exchange says Refinitiv costs and savings on track
  • London stocks falls as UK GDP slumps a record 9.9% in 2020
  • London protest on Phulbari Day demands delisting of GMC from London Stock Exchange
  • London Stock Exchange on track to close Refinitiv deal as income jumps
  • Bangla Bond receives 30 percent oversubscription in London

Features

Our failure to prevent curious onlookers from gathering around the herds is a hindrance to mitigating human-elephant conflict. Photo: Mohammed Mostafa Feeroz

Bleak and desolate? The future of elephants in northern Bangladesh

8h | Earth
Apple does not need to make mixed reality seem exciting to get customers through its doors. They’re turning up in droves anyway, to buy new iPhones or to visit the Genius Bar for IT support. Photo: Bloomberg

Apple has 520 reasons its $3,499 headset will prevail

11h | Panorama
Md Shamsuddoha. Sketch: TBS

'Extreme heat waves are here to stay'

12h | Panorama
Kestopur’s residents have crafted fans for generations and provided it to Rajbari, Faridpur, Kustia, Madaripur, Dhaka and several other districts. Photo: Masum Billah

Talpakha: When novelty becomes necessity

16h | Panorama

More Videos from TBS

13 helpful tips to negotiate about job

13 helpful tips to negotiate about job

6h | TBS Career
Why did Messi turn away from Europe?

Why did Messi turn away from Europe?

7h | TBS SPORTS
Breaching the Kakhovka dam – who benefits?

Breaching the Kakhovka dam – who benefits?

11h | TBS World
The cost of rechargeable fan is increasing hourly due to heating and load shedding

The cost of rechargeable fan is increasing hourly due to heating and load shedding

14h | TBS Today

Most Read

1
bKash denied permission to pay $4.10 lakh for Argentina football partnership
Banking

bKash denied permission to pay $4.10 lakh for Argentina football partnership

2
Photo: Noor-A-Alam/TBS
Splash

The Night Dhaka did NOT vibe with Anuv Jain

3
Photo: TBS
Energy

2nd unit of Payra power plant to shut down over coal shortage

4
Country's first floating solar power plant connected to national grid
Energy

Country's first floating solar power plant connected to national grid

5
Photo: Screengrab from a video posted by a NSU student
Energy

'Will collapse any moment': NSU teachers, students raise concern after long power outage hit country's largest private uni

6
Photo: Salahuddin Ahmed Paulash/TBS
Energy

LPG price drops by Tk13.42 per kg

EMAIL US
[email protected]
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - [email protected]

For advertisement- [email protected]