Dow jumps 250 points to record high as Apple rises and trade-war fears simmer down

The Dow Jones Industrial Average hit its first record high since January on Thursday as gains in Apple and a decrease in trade fears lifted the 30-stock index. The Dow rose 250 points as Boeing, Caterpillar and Apple outperformed. The S&P 500 also rose 0.7 percent to an all-time high, its first since late August, as materials and tech outperformed. President Donald Trump touted the S&P 500’s record in a tweet, saying, “S&P 500 HITS ALL-TIME HIGH Congratulations USA!” Art Cashin, director of floor operations for UBS, said the Dow’s record should be a bullish confirmation of the high reached by the Dow Transports last week. “That should be a Dow theory buy signal,” Cashin said. “According to the theory, the economy is supposed to be improving and therefore you have six to nine months of a higher stock market.” The Nasdaq Composite also rose 0.9 percent as Amazon gained 1.1 percent ahead of an event where they are expected to unveil new Alexa-powered devices. Apple, meanwhile, jumped 1.6 percent. Boeing and Caterpillar, two bellwethers for trade, rose 1.1 percent and 1.8 percent, respectively.

Great news in this Trump economy!!!   For more, click on the text above.      🙂

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