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US stocks end at records as euro gains on dollar

AFP  |  New York 

The US stocks rally resumed today, lifting major indices back to records and the strengthened following European Central minutes opened the door to a greater tightening of All three finished solidly higher at records as investors appeared to jump at the chance to buy stocks at lower prices following Wednesday's modest pullback. "The path of least resistance is still up," said Maris Ogg of Towers Bridge Advisors. Today's rally was prompted in part by higher prices, which boosted petroleum-linked equities.

Investors are also keen for the upcoming earnings season, which kicks off tomorrow with reports from and But analysts also pointed to bullish underlying sentiment as a Big gainers included companies such as and industrial heavyweights and Strong earnings from lifted it nearly five percent and boosted United Continental, and other carriers. Meanwhile, European equities were mixed, but the single currency advanced above USD 1.200 following the ECB minutes from the December 13-14 meeting that said the bank's forward guidance on stimulus "could be revisited early" in 2018, a time-frame that caught traders off "The minutes were music to the ear of bulls, bolstering the case for officials to taper stimulus this year, and the notion that the ECB may be on a faster track to an interest rate hike," said Joe Manimbo, at But of said since the euro's rise since the December ECB meeting could mean the minutes are out of date. "The stronger currency and rising yields is in many ways akin to a rate hike," Lien said. "As market dynamics are very different today than four weeks ago, Mario Draghi's eagerness to change their guidance could be diminished as well.

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

First Published: Fri, January 12 2018. 07:50 IST
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