February 1, 2018
Wall Street moved higher Wednesday, capping a strong run in January and clinching the Dow’s best winning streak since 1959.
The Dow Jones Industrial Average jumped 72 points to 26,149. The S&P 500 advanced 1.4 points to 2,823. The Nasdaq Composite was up 9 points at 7,411.
Despite a pullback to start the week, the Dow and S&P 500 completed their best January performances since 2016. The indexes also posted their 10th consecutive monthly gains—the strongest run in nearly 60 years. The Nasdaq has seven straight monthly gains to its credit.
“Equities continue to drift upward, achieving returns in the first four weeks of the year that are often typical for an entire year,” U.S. Bank Wealth Management chief equity strategist Terry Sandven wrote in a note to clients this week. “While year-to-date performance is superb, the data still seems supportive of higher stock prices.”
This article was posted: Thursday, February 1, 2018 at 8:33 am