The Dow Jones industrial average topped 16,000 for the first time ever Monday, while the S&P 500 briefly surpassed 1,800.
The Dow retreated from the 16,000 level, but still gained 14.32 points from Friday”s all-time high close, to 15,976.
The S&P 500 index dipped 6.65 points to 1,791.53. The NASDAQ fell 36.90 points to 3,949.07
The Dow is up more than 20% so far this year. The S&P 500, despite today”s downward performance, has soared more than 25% in 2013. The NASDAQ was on the verge of a milestone, too, nearing 4,000, a level it hasn”t hit since September 2000 — just months after the tech market collapsed.
Boeing shares rose Monday after the aircraft maker said it sold more than $95 billion U.S. of its new 777X at the Dubai air show. Boeing said it was a record launch for a new aircraft and was far more than analysts had been forecasting. Boeing has been the biggest gainer in the Dow this year, soaring more than 85%.
Boeing has also been the power behind the Dow”s rise from 15,000 to 16,000, rising 48% during the six-month period.
Tesla shares dropped 9% Monday, extending the slide that began last month. A series of battery fires have triggered a nearly 40% plunge in shares of Tesla since early October. Still, the stock is up almost 270% so far this year.
Sony shares rose after the company said it sold more than one million units of its new PlayStation 4 gaming console in the first 24 hours since the game console went on sale early Friday. The game system is Sony”s first in seven years and is going head-to-head with Microsoft”s upcoming Xbox One this holiday season. Shares of Microsoft slipped.
While stocks continued to soar, so did Bitcoin. The price of the digital currency touched an all-time high above $600 earlier Monday, up almost 20% from Friday”s closing price of $528.32.
Since the start of October, the price of Bitcoin has more than quadrupled in value.
The latest surge has been fueled by the interest of new investors, especially those in China, who are becoming increasingly optimistic about the digital currency”s potential growth.
Prices for 10-year U.S. Treasuries were higher, lowering yields to 2.68% from Friday”s 2.71%. Treasury prices and yields move in opposite directions.
Oil prices stumbled 88 cents to $92.96 U.S. a barrel.
Gold prices shed $15.20 to $1,272.20 U.S. an ounce.
Dow Jones Industrial Average (DJIA) Stock Quote and News:
Disclaimer: Neither www.otcshowcase.com nor its officers, directors, partners, employees or anyone involved in the publication of the website or newsletters (“us” or “we”) is a registered investment adviser or licensed broker-dealer in any jurisdiction whatsoever. Further, we are not qualified to provide any investment advice and we make no recommendation to purchase or sell any securities. The prior article is published as information only for our readers. otcshowcase.com is a third party publisher of news and research. Our site does not make recommendations, but offers information portals to research news, articles, stock lists and recent research. Nothing on our site should be construed as an offer or solicitation to buy or sell products or securities. This site is sometimes compensated by featured companies, news submissions and online advertising. Viper Enterprises, LLC (parent company of OTC Showcase) has received no compensation for this article from and owns no shares of the aforementioned company(ies). Please read and fully understand our entire disclaimer at http://www.otcshowcase.com/about-2/disclaimer.
0 comments