ibusinesslines.com December 14, 2018

Facebook shares sink as USA stocks add to records

13 January 2018, 11:16 | Kelvin Horton

The S&P consumer discretionary index.SPLRCD jumped 1.3 percent after retail sales data showed households bought more goods, suggesting the economy exited 2017 with strong momentum.

The S&P 500 is up 43.09 points, or 1.6 percent.

Amazon rose 1.3 percent and provided the biggest boost to the S&P and the Nasdaq.

The Dow Jones Industrial Average rose by 29 percent last year and the broader S&P 500 rose 22 percent, rare and breath-taking gains that simply can not be repeated every year.

JPMorgan Chase & Co rose 0.5 percent in choppy trading after the biggest US bank by assets reported profit that beat estimates, benefiting from higher interest rates and loan growth.

At the closing bell, the Dow Jones Industrial Average stood at 25,574.73, up 0.8 percent.

Industrial companies that advanced included Dow members Caterpillar and Boeing which won 2.0 and 2.4 percent and Cummins, which advanced 1.9 percent.

Wall Street surged to fresh highs on Thursday as rising oil prices lifted energy stocks and upbeat forecast from No. 2 USA carrier Delta Air Lines drove airline stocks higher. The Nasdaq Composite Index's more than 5% advance so far this month, marks the best start to a year since 2004.

Delta Air Lines surged 4.8 percent after reporting fourth-quarter earnings of 96 cents per share, eight cents above analyst expectations.

The Dow is up 1,083.97 points, or 4.4 percent. On the Nasdaq, 1,445 issues rose and 969 fell.

Other News

Trending Now

European Union deal a marginal cost to UK, Sadiq Khan's analysis finds
Under a deal in which Britain was able to secure privileged access to the single market, annual growth... This would widen geographic inequalities across the UK.

Trump Offers Vague Denial About Language on Immigrants
The mood quickly changed when some reporters started shouting about the president's reported "shithole" comment from Thursday. Thousands of African and Haitian immigrants call North Texas home, and many were shocked and disappointed in the comments.

EurAsia Cup 2018: Thomas Bjorn admits sleepless nights over Ryder Cup
Captain Thomas Bjorn promised Europe will return stronger in the six foursome matches on Saturday. It feels quite big for me, especially when I haven't played that many (team events) before.

100th Indian satellite in space
The first stage of GSLV-MII is already assembled and the preparations are on for its launch. The Cartosat-2 was injected into its 505-km sun synchronous orbit.

Saudi women watch football match in stadium for first time
Some clubs are offering special abayas in team colours. "I asked myself repeatedly 'Why I can't go?'" she told AFP. And a spokeswoman for the Saudi embassy in the United States tweeted her delight at the development.

Lakers could replace Luke Walton with David Fizdale, report says
They understand what wins and loses, what they have to do to get an advantage and really understand the game, which he does.

Pak-US cooperation imperative for regional peace: Foreign Office
The US announced last week that it would not deliver military equipment or transfer security-related funds to Pakistan. He added they were enjoying the same facilities as per Pakistani citizens.