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US indices

US indices reached new record highs following the optimism of investors for corporate reporting season

US stock indices reached new record highs on Tuesday after investors remained optimistic for the corporate reporting season. The broader S&P 500 index marks a new historic peak, rising by 0.1% to 2,751.29 points. The index also recorded its best annual start since 1987, adding 2.7% since the beginning of the year.

The blue chip Dow Jones Industrial Average index jumped 153 points during the session to an intraday record after Boeing’s shares rose to a historic peak. The Nasdaq Composite tech index rose 0.2% and also recorded a record of 7,163.58 points

Later this week will be released the finance statements of giants BlackRock, J.P. Morgan Chase and Wells Fargo.

“The fourth quarter will be fine”, said Maris Ogg, the president of Tower Bridge Advisors. “I think the most important thing will be to get information about the impact of a tax relief on the companies. There is no reason not to be primarily positive”, added he.

Last month, the US President Donald Trump signed a law that provides for a reduction in federal corporate tax from 35% to 21%.

Separate positive corporate news is already beginning to appear, supporting the stock market. The retail chain Target reported 3.4% sales growth over the holidays, exceeding the analysts expectations. The shares of the company rose by 3.3%.

About James McGovern

James McGovern is from Arizona, USA. He is business analyst and writer at Finance Apprise Journal, responsible for finance and trading sections, as well as news from USA and Canada.

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