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Dow jumps 135 points to record

13 January 2018

Wall Street's main indexes surged on Friday as strong results for JPMorgan lifted financial stocks and robust retail sales data drove gains in consumer stocks.

The S&P 500 and Nasdaq both registered their eighth record closing highs out of the first nine trading days of 2018, while the Dow boasted its sixth closing high of the year. Visit MarketWatch.com for more information on this news. The bank's shares rose more than 1 percent.

BlackRock rose 3.3 per cent.

The Russell 2000, which moved back to new high territory yesterday, has begun to show a much steeper trajectory of late.

The Dow Jones Industrial Average rose 80.35 points, or 0.31 percent, to 25,655.08.

Wells Fargo slipped 0.3 percent after it set aside $3.25 billion in the fourth quarter to cover legal expenses related to probes into its mortgage and sales practices.

This pick up in near-term strength bodes well for small caps over the coming week, but it should be noted that the broader indices like the S&P 500 and Dow Jones Industrial Average are nearing exhaustion. The tech-heavy Nasdaq Composite Index is up by more than 5 percent. Home Depot rose 1.6 percent and Walmart rose 1 percent.

Sales at online retailers soared 1.2 percent.

But Facebook sank 4.5 percent after announcing a plan to update its newsfeed to emphasize posts from friends and family over other content.

Advancing issues outnumbered decliners on the NYSE by 1,474 to 1,376.

Dow jumps 135 points to record