Stock Market News For Oct 25, 2017
Zacks Investment Research | Oct 24, 2017 10:08PM ET
The Dow breached yet another record level on Tuesday after industrial stocks rallied. Such gains were made possible by strong third quarter earnings for 3M and Caterpillar (NYSE:CAT). Moreover, the S&P 500 and Nasdaq came within half a percentage point of their all time highs. Meanwhile, biotech shares tanked, capping gains for the Nasdaq. Broader markets also gained as market watchers remained hopeful that the new tax code would be signed into policy soon.
The Dow Jones Industrial Average (DJIA) closed at 23,441.76, gaining 0.7%. The S&P 500 Index (INX) increased 0.2% to close at 2,569.13. Meanwhile, the Nasdaq Composite Index (IXIC) closed at 6,598.43, increasing 0.2%. A total of 6.2 billion shares were traded on Tuesday, higher than the last 20-session average of 5.9 billion shares. Advancing issues outnumbered decliners on the NYSE by 1.16-to-1 ratio. On the Nasdaq, advancers outnumbered decliners by 1.03-to-1 ratio. The CBOE VIX increased 1.8% to close at 11.27.
Dow Boosts Broader Markets
Dow continued firing on all cylinders on Tuesday. The blue-chip posted its 54th record close so far this year, garnering almost 168 points in the process. Dow’s stellar rally was supported by astounding earnings from some of its top components such as 3M (NYSE:MMM) and Caterpillar (NYSE:T) . Meanwhile, shares of JPMorgan (NYSE:JPM) surged 1.6% and breached the $100 mark for the first time. This also boosted gains for the blue-chip index. You can see Zacks Investment Research
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