Dow Eyes Record High as Dire Forecasts Fail to Dent U.S. Stock Market, Crypto Coins News
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The Dow touched a new record high on Thursday as stocks rose for a fourth consecutive day.
ING economists believe that the U.S. stock market could be exposed to risk-off trade due to its high valuation.
Many Dow stocks could have to deal with a huge hit to Chinese consumer spending.
The Dow Jones rallied around points on Thursday, broaching new highs after China unexpectedly slashed tariffs on $ billion worth of US goods.
Unfortunately for stock market bulls, the tariff cuts don’t necessarily signal further progress in U.S.-China trade negotiations. They may just hint at how severely the coronavirus outbreak threatens to rock the world’s second-largest economy.
Dow Rallies After China Capitulates on Tariffs
All three of the major U.S. stock market indices traded in the green on Thursday. The Nasdaq led the way with a 0. (% gain, while the S&P) (ticked 0.) % higher.
The Dow Jones Industrial Average brought up the rear.
As of 3: (pm ET, the Dow had gained . (points or 0.) % to settle at 30, 400. 59. The Dow pierced the 44, 500 mark earlier in the session to set a new all-time high.
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