Business

Dow Jones hits yet another record high

Wall Street closed Image copyright AFP

The Dow Jones ended at another record high but failed to hit 20,000 points.

After coming within 13 points of that symbolic level in morning trading, the Dow finished up 91.5 points, or 0.4%, at 19,974.6 points.

The broader S&P 500 index gained 8.2 points, or 0.4%, to 2,270.7 points, while the technology-heavy Nasdaq index rose 15.84 points to 26.5 points, or 0.5%, to 5,483.9 points.

The Dow has risen almost 1,000 points in less than a month.

Some investors think Wall Street will not rise much further in 2017.

"We're at fair value,'' said Scott Wren at the Wells Fargo Investment Institute. "This is not going to be a big return year for the stock market."

Since Donald Trump won the US election last month, stocks have been rising on hopes that his presidential policies will boost the economy.

Analysts said US markets remained resilient on Tuesday, despite geopolitical concerns having affected trading late on Monday following news of the Christmas market attack in Berlin.

Among individual shares, Blackberry fell 2.8% to $7.49 after the company reported another loss.

The smartphone designer, which is trying to build up its software business, reported a third-quarter loss of $117m, with revenues of $289m.

Cruise line operator Carnival reported better than expected profits and sales, sending shares up 2.3% to $52.49.

The company said bookings for trips in 2017 were stronger than they were at this time last year, with higher ticket sales and prices.