Dow (DJIA) Jones Futures Set New All-Time High

The Dow Jones Industrial Average traded in record territory on Tuesday before, with broad cross section of the index contributing to the rally.

The blue-chip index advanced 61.49 points, or 0.3%, to close at 22,118.86. That was just enough for a new all-time high – the Dow’s first since early August.

Twenty-one of 30 index members recorded gains on Tuesday. Pfizer Inc. (PFE) topped the leader board, rising 3.1% per share. DowDuPont Inc. (DWDP) posted solid gains, advancing 2.5%.

Financial behemoths Goldman Sachs Group Inc. (GS) and JPMorgan Chase & Co (JPM) also finished near the top, gaining 2.2% and 1.2%, respectively.

On the opposite side of the ledger, shares of McDonald’s Corp (MCD) fell 3.2%. UnitedHealth Group Inc (UNH) slipped 1.1%.

Apple Inc. (AAPL) declined 0.4% after the technology giant unveiled the new iPhone X. The new iPhone is priced at $999, which makes it Apple’s most expensive phone yet.

All of Wall Street’s major averages finished in positive territory on Tuesday. The large-cap S&P 500 Index added 0.3% to close at 2,496.48, its second straight record close.

The Nasdaq Composite Index also entered record territory, climbing 0.3% to 6,454.28.

Global equity markets followed in Wall Street’s footsteps on Tuesday. The pan-European Stoxx 600 Index was up 0.5% by the close. Major bourses from Frankfurt to Paris also reported gains.

Asian stocks also finished positively, with Japan’s 225-issue Nikkei rising 1.2%. Mainland China’s CSI 300 Index rose 0.3%.

There were no major data announcements on Tuesday, as investors awaited the bulk of the releases for later this week. Reports on inflation and retail sales are scheduled to make their way through the markets as the week progresses.

Dow Jones Industrial Average

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Sam Bourgi is a financial market analyst for economiccalendar.com. He has more than six years of progressive experience in economic and financial analysis, research consulting and sectoral analysis. As a published author in government, peer-reviewed, online and industry sources, he has developed a fundamental approach to the financial markets with a broad focus on stock indices, commodities and the technology sector. He earned his Bachelor’s Degree from the University of Windsor and Master’s degree from McMaster University.