DOW BULL run continues as top U.S. index opens at record high

Varney on Dow Hitting 26000: 'Inexplicable' That Mainstream Media Ignores Rally

The blue-chip index, however, eased from its peak as a pullback in oil prices weighed on energy stocks.

On Friday, stocks booked their second-straight week of gains and ended at record levels. The Hang Seng China Enterprises index rose 2.54 per cent to 12,787.28. Traders bid up shares in the drugmaker after it announced positive results from a clinical trial for a lung cancer treatment. Building materials group CRH fell 0.6 per cent to €30.19, while food company Kerry was down 0.4 per cent at €89.50. Virtu Financial LLC now owns 44,686 shares of the exchange traded fund's stock valued at $2,418,000 after purchasing an additional 42,175 shares in the last quarter. CBS rose 77 cents, or 1.3 percent, to $59.60.

Stocks have picked up where they left off in 2017, with investors piling into the market as Wall Street analysts are boosting their projections of how much money US companies will make this year after Congress slashed the corporate tax rate late last year to 21% from 35%.

Results: EPS of $2.59, up 23%, on revenue of $52.1 billion, growing 9.5% from a year ago. Brent crude, used to price worldwide oils, shed 84 cents to $69.42 in London.

Advancing issues outnumbered decliners on the NYSE by 2,037 to 687.

JD Sports saw its shares jump more than 6 per cent after it raised its guidance following a strong Christmas trading performance. The Russell 2000 index of smaller-company stocks gave up 13 points, or 0.8 percent, to 1,578. Germany's DAX gained 0.3 percent and France's CAC 40 added 0.1 percent.

Fashion house Hugo Boss was among the biggest gainers in Europe, up 3.7 percent, after it reported a rebound in growth at its own stores, a jump in online sales and a recovery in the US. GE lost 66 cents to $18.10.

UnitedHealth rose 2.5 per cent after the largest U.S. health insurer reported results that beat estimates and raised its 2018 earnings outlook.

Cruz added that the Federal Reserve Bank of New York's business conditions index, which came in slightly below expectations on Tuesday, may have also contributed to Wall Street's dip.

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