Saturday, 25 February 2017

Wall Street edges higher to give Dow 11th straight record

Wall Street edged higher on Friday, with the Dow extending its streak of record-setting gains to 11 days, as increases in utilities and other safety plays outweighed declines in financials. Major Wall Street indexes have rallied to record levels since the election of Donald Trump as US president, boosted by pledges of tax reforms, reduced regulations and increased infrastructure spending. 

Equities were in negative territory for a majority of the trading session, however, as investors grew hesitant after recent comments from the Trump administration indicated its pro-growth policies may have a longer route to implementation. As details remain scarce on Trump's plans, including one announced on Thursday to bring millions of jobs back to the United States, markets have kept to tight daily trading ranges. The benchmark S&P 500 index has not registered a move of at least 1 percent in either direction since Dec. 7.

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