United States stocks end in the red

United States stocks end in the red

Since 1982, Bespoke notes that there have been 30 prior instances in which the S&P 500 rallied more than 0.5% to a new all-time high before losing 1% from its daily highs to the closing price.

The S&P 500 and Dow both hit big round numbers in early trading Tuesday, with the S&P 500 crossing above 2,800 for the first time, and the Dow racing above 26,000. Technology and consumer staples led gains for the day. This is something that Investors should look for in all the stocks they are trading and is an important indicator to keep tabs on. They may have the wind at their backs as tax reforms mean USA businesses and many taxpayers are poised to keep more of their money in 2018. Japan's Nikkei 225 Index shot up by 1 percent, while Hong Kong's Hang Seng Index soared by 1.8 percent.

General Motors rose 2.7% after the company said it expected earnings in 2018 to be largely flat, compared with 2017, but that profits should pick up pace in 2019.

THE QUOTE: "Risk appetite returned to the US on Wednesday, feeding into gains for equity indices. expected to transpire to Asia".


Ford Motor slumped 7 percent after the automaker gave a disappointing profit forecast for the year because of weaker sales in the US, higher commodity costs and its investments in new electric and hybrid cars.

Tomorrow, Bank of America Corp (NYSE:BAC), Goldman Sachs Group Inc (NYSE:GS) and U.S. Bancorp (NYSE:USB) will report results before the bell. The company said it expects to inject US$350 billion in the U.S. economy over the next five years due to the new tax law, and will create 20,000 new jobs. Cadinha & Co. LLC now owns 90,798 shares of the exchange traded fund's stock worth $20,322,000 after purchasing an additional 89,005 shares during the last quarter. The stock declined $4.81, or 1.9 percent, to $253.65.

The European single currency on Monday nearly broke $1.23 for the first time since December 2014 on strong economic data and after a key member of the European Central Bank hinted that it could start cutting back its bond- buying stimulus by September. In the S & P 500 stock index, analysts expect first quarter profits of firms to grow by 15.3 percent, up from just 12.2 percent at the beginning of the year. Germany's DAX lost 0.2 percent to 13,220.70. The Nasdaq composite gained 22 points, or 0.3 percent, to 7,245.

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