Off the wire
• Chinese premier exchanges views on bilateral ties with German Chancellor over phone  • Judicial rule stipulates punishments for cult-related crime  • Bolt loses 2008 Olympic relay gold due to teammate's doping case  • No restrictions on cross-border renminbi receipts, payments: central bank  • Chinese lenders' bad loan ratio at 1.74 pct by 2016  • Forex regulator dismisses reports on transnational financing regulation  • Spain's richest 10 percent control 52.8 percent of wealth: study  • Burundi to face worst energy shortage in March: official  • Caspain Sea dispute between five states could end this year  • China to further investigate in Bitcoin exchanges  
You are here: 　 Home

1st LD Writethru: Dow hits 20,000 for first time ever amid corporate earnings

Xinhua, January 25, 2017 Adjust font size:

U.S. stocks opened higher on Wednesday, with the Dow breaking the 20,000 milestone and investors eyeing a batch of corporate earnings reports.

Shortly after the opening bell, the Dow Jones Industrial Average rallied 115.82 points, or 0.58 percent, to 20,028.53. The S&P 500 rose 10.23 points, or 0.45 percent, to 2,290.30. The Nasdaq Composite Index gained 35.48 points, or 0.63 percent, to 5,636.43.

Shares of Boeing rose over 2 percent in the early trading after the company posted better-than-expected quarterly results.

The Boeing Company announced fourth-quarter revenue of 23.3 billion U.S. dollars, with GAAP earnings per share of 2.59 dollars and core earnings per share (non-GAAP) of 2.47 dollars reflecting overall solid execution on production programs and services.

United Technologies also posted quarterly profit and revenue that beat Wall Street expectations.

AT&T, eBay and Qualcomm are due to report quarterly earnings after Wednesday's closing bell.

The latest data from Thomson Reuters showed that the S&P 500 companies' blended earnings in the fourth quarter of 2016 are expected to rise 6.7 percent year on year, while the revenues are forecast to increase 4.1 percent.

Meanwhile, some analysts said U.S. President Donald Trump's new executive orders also boosted bullish sentiment on Wall Street.

U.S. stocks posted solid gains after Trump won the presidential election as investors bet that he would pursue massive corporate tax cuts, deregulation, and infrastructure spending.

Dow closed above 19,000 for the first time ever on Nov. 22 and has increased about 9 percent since Election Day. Endi