S&P, Dow hit records on upbeat Intel, AbbVie earnings

The Dow Jones Industrial Average and S&P 500 have closed at their highest levels ever

Stocks finished mostly higher, as the Dow outperformed the other major benchmarks to close at another new record high, while the S&P 500 also eked out a new record after drifting near its flatline for much of the day.

AbbVie's ABBV.N shares hit a record after the drugmaker significantly boosted its 2018 earnings forecast.

The results of Intel and some other companies helped investors shrug off weaker-than-expected US economic growth data. Fourth-quarter gross domestic product was up 2.6 percent, falling below expectations but strong enough to stave off concerns that the USA economy was starting to stumble as it headed into the new year.

"The Q4 print showed that domestic demand is strong - really strong - and perhaps beginning to push against the capacity constraints of the economy", market economists at BNP Paribas wrote in a note.

S. growth data. official in support of a weak dollar and following Friday's U. S.

The U.S. dollar remained weak against a basket of major currencies, still bruised by comments earlier this week by a senior U.

The Dow is up 321.07 points, or 1.2 percent.

The Dow Jones Industrial Average added 140.67 points, or 0.54 percent, to 26,392.79.

The Standard & Poor's 500 index gained 1.71 points, or 0.1 percent, to 2,839.25. The Nasdaq composite gained 41 points, or 0.6 percent, to 7,452.

Caterpillar shares rose 3.8 percent in the premarket after the company released its fourth-quarter results.

S&P 500 measures the performance of 500 widely held common stocks of large-cap US companies.

Intel's (O:) shares jumped more than 9 percent to their highest in nearly two decades, after strong results offered the clearest sign yet that its years-long effort to shift away from a slowing PC business was paying off.

Brent crude futures LCOc1 settled up 10 cents, or 0.1 percent, at $70.52 per barrel, while USA crude futures CLc1 closed at $66.14, up 63 cents, or almost 1 percent.

Starbucks SBUX.O fell 5.8 percent after it warned 2018 global cafe sales growth would be at the low end of its forecast.

Related News:

  • Pence says USA  embassy will move to Jerusalem by end of 2019

    Pence says USA embassy will move to Jerusalem by end of 2019

    But he added: "I'd like to reserve judgment because we're still waiting for the Americans to come out with their plan". Other female journalists covering Pence's visit expressed frustration on Twitter , using the hashtag #PenceFence .
    Games with Gold for February include Crazy Taxi, Shadow Warrior, more

    Games with Gold for February include Crazy Taxi, Shadow Warrior, more

    On the Xbox 360 side of things you can download Split/Second and Crazy Taxi , both of which are also playable on Xbox One . This affects now unannounced titles as well, such as future additions to the Halo, Gears of War, or Forza franchises.
    MX will fight tariffs on washers, solar panels

    MX will fight tariffs on washers, solar panels

    International Trade Commission recommended in October when it found that panel imports were hurting U.S. panel manufacturers. The tariffs will be reduced to 18 percent and 45 percent in the second year, and to 16 percent and 40 percent in the third.
  • Padmaavat: Tepid response to bandh call in Guj; film not shown

    Padmaavat: Tepid response to bandh call in Guj; film not shown

    The state government, however, said it was ready to provide security if the theatre owners wanted to screen the movie. Last but not the least, they don't even spare children and attack them mercilessly by throwing rocks at them.
    Cristiano Ronaldo reveals how he can help save Zinedine Zidane's job

    Cristiano Ronaldo reveals how he can help save Zinedine Zidane's job

    Leganes , based just south of Madrid , was playing in the last eight of the Copa for the first time in the team's 89-year history. They have not won at Valencia's Mestalla stadium since 2013 and Zidane says he needs to find an answer to their current woes.
    Grammy Awards 2018: Ceremony facing cash crunch

    Grammy Awards 2018: Ceremony facing cash crunch

    These artists have already put out award-worthy music and are likely to develop more as they grow in their careers. The GRAMMYs stage has seen plenty of powerful pairings, including Elton John and Eminem's collaboration in 2001.
  • Google and Facebook 'Deliberately Engineer Addiction — George Soros

    Google and Facebook 'Deliberately Engineer Addiction — George Soros

    Soros's first major political involvement was in funding groups blocking the re-election bid of George W Bush in 2004. TechJuice for Browser: Get breaking news notifications on your browser.
    India marks 69th Republic Day with colourful parade

    India marks 69th Republic Day with colourful parade

    The tableau of All India Radio (AIR) featuring Modi's monthly address "Mann Ki Baat", was one of the many firsts this year. The parade was commanded by Lt General Asit Mistry, General Officer Commanding, Headquarters Delhi Area.
    Killed, More Than 150 Wounded In Taliban Car Bombing In Kabul

    Killed, More Than 150 Wounded In Taliban Car Bombing In Kabul

    Kabul deputy police chief Haqnawaz Haqyar said that victims were still being brought in to hospitals across the city. The attack comes just as week after militants stormed the Intercontinental Hotel in Kabul and killed 22 guests.
  • Fossilized Jawbone Hints at a Much Earlier Exodus from Africa

    Fossilized Jawbone Hints at a Much Earlier Exodus from Africa

    It's worth remembering that our ancestors - the Homo sapiens - weren't the only species of human wandering the globe at this time. The scientists were digging in a cave called Misliya, on the slopes of Mount Carmel on the northern coast of Israel.
    Colorado sheriff's deputy shot and killed outside Denver

    Colorado sheriff's deputy shot and killed outside Denver

    The only suspect description available for the pair is that they are light-skinned, black males or dark-skinned, Hispanic males. Gumm is the second Colorado law enforcement officer killed in the line of duty in the past month.
    Celtics gut out bounce-back win vs Clippers

    Celtics gut out bounce-back win vs Clippers

    And the Celtics, who beat the Los Angeles Clippers 113-102, left Ojeleye on the court! But the Lakers had another ending in mind. The Celtics should be considered the favorite, but with their struggles as of late it's hard to buy into them at this moment.


Most liked

Former New Mexico Gov. Richardson meets with Myanmar…
The judge will decide whether the journalists committed the crime or not. "And they were attacking villages even today". She needs to change, and perhaps the West needs to give her another chance and not impose sanctions".

Budget Bickering Shuts Down Parts of US Government
The critical Senate vote was preceded by a day of high drama, with attempts to strike new deals, all of which failed. This is the first modern government shutdown with Congress and the White House controlled by the same party.

Myanmar to face stronger European Union pressure in Feb over Rohingya crisis
A Myanmar government spokesman said Mr Richardson "should review himself over his personal attack against our state counsellor". Richardson called the panel a "whitewash and a cheerleading operation" for Myanmar leader Aung San Suu Kyi.

Vince McMahon bringing back 'reimagined' XFL
In the press release, it was stated that many aspects of the new league are still in development such as player salary. WWE founder and chairman Vince McMahon announced Thursday he is giving a professional football league another go.