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Dow Jones sails past 23000 milestone, hitting record highs

19 October 2017

The Dow Jones industrial average opened above 23,000 for the first time Wednesday after briefly crossing the milestone in intraday trading Tuesday.

Shares of the largest USA health insurer UnitedHealth touched a life high and was last up 6.3 percent, after the company reported a stronger-than-expected profit and raised its full-year earnings forecast.

The Dow Jones industrial average rose 40 points, or 0.2%, to 22,997; earlier in the day, it was above 23,000. The Nasdaq Composite Index was down 0.35 points or 0.01 per cent to 6,623.66.

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The Dow Jones, which tracks 30 of the biggest USA listed companies, has hit new records several times over the last month on expectations of strong company profits and hopes that President Donald Trump will win backing for his tax cut plan. The S&P 500 gained 1.72 points or 0.07 per cent to 2,559.36, Xinhua reported.

The Dow added 285.88 points, or 1.3 percent. Six of the 11 major S&P sectors were lower, led by 1.32 percent drop in the telecom services index.

The Nasdaq climbed 18.42 points, or 0.3 percent.

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Shares of Wells Fargo, Bank of America and Goldman Sachs rose between 1.2 percent and 2.2 percent.

The S&P 500 is up 322.43 points, or 14.4 percent.

The Nasdaq is up 1,241.10 points, or 23.1 percent.

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Dow Jones sails past 23000 milestone, hitting record highs