Dow Ascends to Record High and Nears 22,000
The S&P 500 is trading at about 18 times earnings estimates for the next 12 months,
above its 10-year average of 14 times, according to Thomson Reuters Datastream.
With two thirds of S&P 500 companies having reported their second-quarter earnings, 72
percent have beaten Wall Street’s expectations, according to Thomson Reuters I/B/E/S.
(Reuters) - The Dow Jones Industrial Average racked up a fifth straight record high on Tuesday
and neared the 22,000 mark, powered by Goldman Sachs, JPMorgan Chase and other banks.
The S&P 500 information technology index is up 22 percent year to date, leading other sectors.
JPMorgan Chase rose 1.34 percent and Goldman Sachs added 0.74 percent
The Dow has risen 11 percent in 2017, even as Wall Street loses confidence
that President Donald Trump and a Republican-controlled Congress this year will cut taxes and increase spending on infrastructure.
