US stocks slipped early Tuesday morning after finishing modestly higher on Monday. The Dow Jones Industrial Average is coming off its 12th consecutive record close Monday, the longest streak of that kind since 1987.
The Dow is coming off its 11th consecutive winning session and a 3rd straight weekly advance to begin a new trading week. In the early going, neither buyers nor sellers are grabbing much traction as both the Dow and S&P500 have opened relatively flat.
U.S. stocks continue to show impressive resiliency in a week where the trend has been full of morning pullbacks and afternoon rallies with the end result being a string of recording setting sessions. Today is looking very similar to what we have seen all week with both the Dow and S&P500 starting the session in the red.
Stocks opened modestly higher Thursday with the Dow and S&P500 touching all-time intraday highs early on in the session before pulling back slightly. If the Dow closes higher today, it would be the 10th consecutive record close for the blue chip index – something that hasn’t happened in nearly 30 years.
The Dow Jones Industrial average closed on Tuesday at a record level for the eighth consecutive session. When the cash market opened on Wednesday it appeared that the streak would come to an end but in the last hour, the Dow has rallied and is currently hovering at a breakeven level. Both the S&P500 and the Nasdaq are relatively flat as the trading day gets started.
The markets have resumed their path toward record territory after the holiday weekend. On Friday, the Dow closed out the week by reaching a record close for a seventh consecutive session and today it seems to be heading for an eighth consecutive record session.
It has been an impressive February in the markets so far with U.S. stocks up 3% to 4% spurred on by promises of President Donald Trump to reform taxes and invest in infrastructure.
US markets opened near the unchanged line Thursday, pausing after a record setting day Wednesday. The Dow, S&P500 and Nasdaq all closed at record highs yesterday for the fifth consecutive session – the first time all three benchmarks notched record closes for five straight days since 1992.
U.S. stocks are pushing once again toward record levels this morning. Currently the Dow is up nearly 0.5% and the S&P500 is up over 0.25%. The Nasdaq is in positive territory as well and if it ends the day in the green, it will match its longest winning streak since December 27, 1999.
US stocks paused Tuesday as investors geared up for Federal Reserve Chairwoman Janet Yellen’s two-day congressional testimony. Yellen, speaking for the first time before the GOP led Senate Banking Committee, reiterated her view early Tuesday that the US economy is likely to continue its moderate pace of growth this year.
U.S. markets have opened the week reaching for more records. After closing out last week at record levels, both the Dow and S&P500 are continuing with that momentum to begin the trading week up 0.40% and 0.34% respectively. The Trump trade is back on after the President announced that he will soon unveil his tax reform plan with the promise of massive corporate tax cuts.
US stocks continued their record setting run Friday, with all three major benchmarks on track for a third consecutive week of gains. A mid-day rally Thursday, led by President Trump’s promise of his soon-to-be released tax plan, helped lift stocks to record highs overcoming what was largely a disappointing week for stocks.
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