Dow surges above 29,000 and stock market hits fresh records, propelled by strong earnings and data
Published: Jan 16, 2020 9:38 a.m. ET
U.S. benchmarks jumped to all-time intraday highs early Thursday, on the heels of the signing of a formal trade truce between the U.S. and China, completed at a White House signing ceremony on Wednesday. Investors were judging a batch of U.S. economic reports including those on retail sales and jobless claims and a fresh batch of quarterly results, headlined by those from Morgan Stanley, as upbeat, providing further reason to extend a record-setting move by stocks. The Dow Jones Industrial Average DJIA, +0.51% rose 170 points, or 0.6%, at 29,202, the S&P 500 index SPX, +0.47% advanced 0.5% at 3,307, while the Nasdaq Composite Index COMP, +0.74% picked up 0.7% to 9,320. All three stock gauges touched intraday records at the start of T ...