NASDAQ

Today's data summary

Market closed
% change
-0.51%
Value
7986.96
Change
-41.28
As of 09:13 23 Sep 2018

Latest updates

Oil boost boosts Dow to new high

Wall Street traders
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The Dow has hit a new record high at the end of a week in which investors largely shrugged off trade worries.

The Dow Jones Industrial Average rose 69.43 points, or 0.26% to 26,726.41, the S&P 500 lost 1.5 points, or 0.05%, to 2,929.25, and the Nasdaq Composite dropped 41.28 points, or 0.51% to 7,986.96.

US shares hit record levels

Today Programme

BBC Radio 4

Wall Street
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Shares on Wall Street saw record highs overnight as trade war worries subsided.

James Bevan, chief investment officer at CCLA Investment Management, says that US President Donald Trump's tax cuts have helped to boost corporate earnings.

"Many people anticipated there would be a growth in revenue growth, such that the third quarter numbers are expected to be even better than the very strong second quarter numbers," Mr Bevan told the Today programme.

"People are now talking about at least $160 of index earnings this year, about $175 the next year, and that means the US equities market can continue higher for those who take that view."

However he said that markets would likely be subject to correction when the Federal Reserve meets in October.

Wall Street closes higher

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The Dow Jones and S&P 500 both hit fresh highs on Thursday, as investor concerns about trade eased and focus shifted to the strength of the US economy.

The Dow, which had been slower than other indexes to make up recent losses, jumped almost 1% to close at 26,656.98 - a level last seen on 26 January.

The S&P 500 gained 0.8% to 2,930.75 while the Nasdaq rose 1% to 8,028.23.

S&P and Dow hit intra-day highs

Wall Street trader
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The S&P 500 and the Dow Jones Industrial Average have both hit all-time intraday highs, with the Dow setting a new record for the first time in eight months.

Trade concerns seemed to be receding after sparking a sell-off to start the week, with investors pointing to a strong US economy as underpinning stocks' strength.

Gains were broad across sectors, while stocks in major firms such as Microsoft, Apple, and Amazon, were giving the biggest boosts to the S&P 500.

"The economic numbers are good and people are fueled by that," said Alan Lancz, president of advisory firm Alan B. Lancz & Associates.

"What we're seeing is more of a fear of missing out," Mr Lancz added. "We are hitting new highs for first time since January on the Dow and that confirmed a lot of momentum players."

Wall Street higher as tech stocks bounce back

S&P 500 traders
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US stocks rose at the open with the S&P 500 hitting a record high helped by a bounce back in technology stocks and relief that fresh US and China tariffs were less damaging than feared.

The Dow Jones Industrial Average rose 113.63 points, or 0.43%, at the open to 26,519.39. The S&P 500 opened higher by 11.78 points, or 0.41%, at 2,919.73. The Nasdaq Composite gained 43.49 points, or 0.55%, to 7,993.53 at the opening bell.

Wall Street bounces back

Wall St trader
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US stocks have closed higher after new tariffs were announced by both the US and China in an escalating trade war.

"[The trade dispute] has escalated to a point where finally we're probably getting closer to a resolution," said Chuck Carlson, chief executive of Horizon Investment Services. "It's almost as if we're getting down to the brass tacks of both countries having not too much more room to go."

The Dow Jones Industrial Average rose 185.51 points to 26,247.63, the S&P 500 gained 15.56 points points closing at 2,904.36 and the Nasdaq Composite added 60.32 points, finishing at 7,956.11.

Wall Street higher on tariff optimism

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Two of the main US stock indexes are higher in early trading, buoyed up by a rise in oil prices and concessions that analysts say make the latest round of trade tariffs on China less damaging than initially feared.

President Trump holding the tariff rate at 10% for the moment plus a series of exclusions for goods including smartwatches produced by Apple and Fitbit strengthened the technology stocks seen as most exposed to a still worsening trade war.

"Rather than going ahead with the full 25%, the administration will wait till end of the year, this minimises the overall impact," said Scott Brown, chief economist at Raymond James in St. Petersburg, Florida.

"There's this hope that this move is going to lead China to the bargaining table again and most market participants think everything is going to turn out OK."

The Dow Jones Industrial Average is up 83 points at 26,145.

The S&P 500 is down 17 points at 2,889.

The Nasdaq Composite is up 42 points at 7,936.

Nasdaq extends fall

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The Nasdaq is now down 1.1% at 7,922.07 following reports Donald Trump will make an announcement about China trade after the closing bell.

He is expected to announce tariffs on an additional $200bn of Chinese goods.

The Dow Jones Industrial Average is now down 0.25% at 26,090.33.

The S&P 500 is off 0.36% at 2,894.41.

Dow Jones and S&P 500 dip

Away from the Nasdaq, other US indexes are also trading lower.

The Dow Jones Industrial Average is down 0.13%, or 33.46 points, at 26,121.21.

The S&P 500 has fallen 0.33% to 2,895.25.

FAANG stocks slide

Nasdaq
Reuters

The Nasdaq has clawed back some ground but is still trading 0.80% lower at 7,945.29.

The so-called FAANGs - Facebook, Apple, Amazon, Netflix and Alphabet’s Google - are all trading lower on reports that US President Donald Trump is close to announce tariffs on an additional $200bn of Chinese goods.

Facebook's stock is down 1%, Apple is off 1.5%, Amazon is 1.9% lower, Netflix has dropped 2.6% and Alphabet has dipped 0.76%.