The Dow is on track to hit 20,000
Brendan McDermid/Reuters
The benchmark S&P 500 is also on pace to open at a record high.
The S&P 500 and the tech-focused Nasdaq clinched new highs Tuesday, but the Dow failed to climb to its record of 19,999.63. It closed within 0.4% of the milestone.
This week is the busiest of earnings-reporting season for S&P 500 companies, and some better-than-expected earnings results have supported the major indexes. On Tuesday, producers of metals and raw materials on the benchmark S&P 500 gained after chemical-maker DuPont beat on earnings.
Several market strategists, including Raymond James' Jeff Saut, have said that the bull market is transitioning this year from being interest rate-driven to being earnings driven. Investors' focus, they argue, is returning squarely to profit as interest rates bottom and US monetary policy continues to tighten.
The so-called Trump rally that took stocks - and financial stocks in particular - to new highs after the election stalled at the beginning of this year. But in his first week, President Donald Trump pushed the pro-business agenda promised on the campaign trail. He met Tuesday with CEOs from the largest automakers including GM and Fiat Chrysler to urge more domestic manufacturing.
Meanwhile, inflation expectations continue to rise as Trump touts his infrastructure plan. The 10-year yield was up two basis points to 2.491% at 8:56 a.m. ET.
According to a report Tuesday from Kansas City Star and The News Tribune, Trump's administration has compiled a list of 50 infrastructure projects, totaling $137.5 billion in investment. An announcement directing the construction of a border wall with Mexico is expected on Wednesday.
- I'm an interior designer. Here are 10 things in your living room you should get rid of.
- A software engineer shares the résumé he's used since college that got him a $500,000 job at Meta — plus offers at TikTok and LinkedIn
- Higher-paid employees looking for work are having a tough time, and it could be a sign of a shift in the workplace
- Apple clinches strong double-digit growth in India; CEO says incredibly exciting market
- Nifty hits record peak in early trade; Bajaj Finance jumps 6%
- Carbon Credits and Trading
- Rupee jumps 9 paise to 83.37 against US dollar in early trade
- Top 10 destinations to visit in India for nature and wildlife lovers in 2024