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US stocks end in the green

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and power Dow's gains

U. S. stock ended higher on Tuesday, 09 January 2018 as indices finished at fresh records, with the and Nasdaq registering a sixth straight gain for 2018.

The Jones Industrial Average tacked on 102.80 points, or 0.4%, to 25,385.80. The Index advanced 6.19 points, or less than 0.1%, at 7,163.58. The index gained 3.58 points, or 0.1%, to 2,751.29, led by gains in health-care and financial stocks.

Dow's gains were powered by sharp gains for amid reports that the had a backlog of deliveries in 2017, and Johnson & Johnson.

Reviewing Tuesday's economic data, was limited to the Job Openings and Labor Turnover Survey for November and the Index for December. The November Job Openings and Labor Turnover Survey showed that job openings decreased to 5.879 million from a revised 5.925 million (from 5.996 million) in October. The Index for December slipped to 104.9 from 107.5 in November.

The ICE Index, a gauge of the greenback against a half-dozen rivals, was up 0.2%, underlining a modest, three-session uptrend for the currency. Because most commodities are priced in dollars, strength in the currency can create a headwind for assets detracting from its appeal among buyers using weaker currencies. But the greenback has stumbled against rivals in recent months as hopes for a broad-based pickup in the global economy draws potential buyers away from the U.

S. unit.

The recent downdraft for the buck also comes as a number of Federal Reserve members have stirred some doubt about the pace of interest-rate increases in 2018, with some pointing to it potentially exceeding the two or three that the market has priced indue to concerns that recent fiscal stimulus measures could overheat the economy.

Bullion prices ended lower at Comex on Tuesday, 09 January 2018. Gold prices ended lower for second day in a row on Tuesday, as the remained buoyant along with global equities, undercutting the appeal of the haven asset. February gold fell $6.70, or 0.5%, to settle at $1,313.70 an ounce. Silver for March delivery shed 0.8% to $17.01 an ounce.

rallied on Tuesday, 09 January 2018 extending gains into a second consecutive session as expectations for an eighth-straight weekly drop in U. S. crude inventories helped send prices to another finish at a three-year high.

February Intermediate crude CLG8, +0.81% climbed $1.23, or 2%, to settle at $62.96 a barrel on the after tapping a high of $63.24. rose $1.04, or 1.5%, to $68.82.

Last week, WTI and scored gains of 1.7% and 1.1%, respectively. A seven-week string of drops in U. S. crude supplies and concerns over unrest in were drivers for the rally. A weekly decline in the number of U. S. drilling rigs led both contracts to also finish higher on Monday.

Meanwhile, 10-year Treasury note yield climbed to 2.55%, approaching their highest level since last March, and signaling that investors in bonds are positioning for a higher rate environment, which can weigh on existing bonds and curb equity enthusiasm.

On Wednesday, investors will receive the weekly MBA Mortgage Applications Index at 7:00 ET, Import/Export Prices for December at 8:30 ET, and Wholesale Inventories for November (consensus +0.7%) at 10:00 ET.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, January 10 2018. 11:27 IST
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