1. Dow 23,000: The Dow Jones industrial average briefly eclipsed the 23,000 point barrier on Tuesday. The index, which has added roughly 25% since President Trump was elected, closed at a new record of 22,997. The S&P 500 increased 0.1% and the Nasdaq ended the session flat.
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | +44.00 | | +2.00 | | +1.60 | | +0.19% | | +0.03% | | +0.06% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | +26.93 | | +9.75 | | +22.33 | | 21,363.05 | | 3,381.79 | | 7,538.50 | | +0.13% | | +0.29% | | +0.30% | | | |
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| | | Biggest Winners | | International Business Machines Corp | +4.55% | | | | Chesapeake Energy Corp | +2.91% | | | | PayPal Holdings Inc | +1.21% | | | | Lam Research Corp | +0.93% | | | Biggest Losers | | MGM Resorts International | -0.95% | | | | Advanced Micro Devices Inc | -0.56% | | | | Newmont Mining Corp | -0.50% | | | | Kroger Co | -0.24% | | | | | | | |
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| News: What you need to know about the markets | | | | | | | Dow 23,000; China's vision; Rio Tinto scandal | By Ivana Kottasová
Wednesday, October 18th, 4:52am | | | | 1. Dow 23,000: The Dow Jones industrial average briefly eclipsed the 23,000 point barrier on Tuesday. | | | | The index, which has added roughly 25% since President Trump was elected, closed at a new record of 22,997. The S&P 500 increased 0.1% and the Nasdaq ended the session flat. | | | | There could be more gains on Wednesday: U.S. stock futures were edging higher ahead of the opening bell. | | | | 2. China's economic vision: China's leaders are gathered in Beijing this week for the National Congress of the ruling Communist Party, an event that takes place just twice a decade. | | | | For President Xi Jinping, the summit is a chance to tighten his already strong grip on power. During his first five-year term, he made it clear that the Party's interests take precedence over market forces. | | | | On Wednesday, Xi stressed in a major speech that China must continue with "national rejuvenation" on its own terms and not "mechanically copy the political systems of other countries." | | | | While the economy has grown at an impressive rate, experts say that Xi's government has failed to move quickly enough to deal with soaring debt and bloated state-run companies. | | | | 3. Global market overview: European markets were mixed, while most stocks in Asia posted losses. | | | | Oil prices were 0.4% higher. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 4. Companies and economics: U.S. Bancorp will release earnings before the U.S. open. American Express, eBay, Kinder Morgan and Sallie Mae will follow after the closing bell. | | | | The U.S. Census Bureau will release its housing market report for September at 8:30 a.m. ET. | | | | The Energy Information Administration will follow with its weekly petroleum report at 10:30 a.m. | | | | The Securities and Exchange Commission has accused mining giant Rio Tinto and two former executives of misleading investors over the value of a coal mine in Mozambique. | | | | Rio Tinto said in a statement that it "intends to vigorously defend itself against these allegations." | | | | 5. Stock market movers: IBM shot up 5% in extended trading after reporting strong earnings on Tuesday. | | | | Download CNN MoneyStream for up-to-the-minute market data and news | | | | | | | |
| | | | | | Wednesday -- American Express earnings
Thursday -- 30th anniversary of Black Monday; Deadline for pitches for Amazon HQ2 location
Friday -- Earnings from General Electric and Procter & Gamble. | | | | | | | |
| Key Market Stats | Latest | Today's Change | | | Oil | $52.04 | +0.16 / +0.31% | | | Gold | $1,282.10 | -4.10 / -0.32% | | | 10-yr | 2.30% | -0.01 / -0.39% | | | Euro | $1.17 | -0.00 / -0.16% | | | |
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