Full Steam Ahead - Wall Street Hits Record Highs
"Wall Street closed at record highs amid sustained optimism about the likelihood of lower corporate tax rates as the Republican tax bill moved closer to passage"
- The Dow Jones Industrial Average .DJI rose 140.46 points, or 0.57 percent, to 24,792.2, the S&P 500 .SPXgained 14.35 points, or 0.54 percent, to 2,690.16 and the Nasdaq Composite .IXIC added 58.18 points, or 0.84 percent, to 6,994.76.
- The three indexes set record closing highs, as did the small-cap Russell 2000 index , up 1.21 percent to end at 1,548.93. - Reuters
Fintech and cryptocurrencies are spurring other valuation bubbles perhaps. Perhaps it has been the tremendous recovery period the US demanded. The DOW, at its systematic core, is compiled of outstanding enterprises - Intel, Apple and Goldman were leaders today. It will be more prudent to discuss today's price of the Dow in three months time. Nasdaq lead with Akamai (7.91%) and Alcoa (1.96%), and the S&P gained despite heavy the losses from CSX last week. CSX CEO Hunter Harrison stepped down - after many rumors about his health throughout the summer, when CSX was backing up trains in Central Appalachia.