Friday 27 January 2017

Wall Street ends flat after 2-day run; Dow stays above 20,000

US stocks were little changed on Thursday as investors paused following a two-day rally that pushed the Dow Jones Industrial Average above the 20,000 mark, while the latest wave of earnings rolled in. Qualcomm weighed on both the S&P 500 and Nasdaq as the chipmaker fell 5.0 percent to USD54.05 after posting a lower-than-expected rise in quarterly revenue. 

The post-election rally reignited this week following a solid start to earnings season and optimism over US President Donald Trump's pro-growth initiatives, giving the benchmark S&P 500 its best two-day performance in seven weeks and catapulting the Dow above 20,000 for the first time.

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