S&P 500, Nasdaq notch record high despite shutdown concerns

Galtero Lara
Enero 22, 2018

The Dow Jones Industrial Average advanced 54 points, or 0.2%, to 26,072. The S&P 500 decreased 4.53 points, or 0.16%, to 2,798.03. The Dow was up 0.8 percent for the week entering Friday's session, while the S&P 500 and Nasdaq were up 0.4 percent and 0.5 percent, respectively. All three benchmark indexes clinched their third straight weekly advance.

The US House of Representatives on Thursday passed a short-term spending bill to avoid a government shutdown, but whether the bill could pass the Senate remains uncertain.

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Fourth quarter earnings are expected to increase 12.4 per cent from the last quarter of 2016. Excluding a charge related to the tax bill, the company reported earnings per diluted share of $0.84, higher than market expectations of $0.77. According to financial research company FactSet, of the S&P 500 companies that had reported as of Friday, 69 percent have surpassed earnings-per-share estimates while 85 percent have beaten expectations on the top line.

On the economic front, USA consumer sentiment in January slipped to 94.4, after falling to 95.9 in December, according to a survey released by the University of MI on Friday, lower than economists' expectations of 97.

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