Dow Jones Industrial Average achieved an unprecedented milestone, closing above the 38,000 mark for the first time in history on Monday (Jan 22). Accompanying this surge, the S&amp;P 500 also notched a new record, closing at approximately 4,850, while the Nasdaq saw an uptick, reaching 15,360 at the close of Monday's trading session.

The early days of the year witnessed a sluggish performance across major stock indexes. However, a notable reversal occurred in the middle of last week, propelling the market to its current heights.

Investors have been buoyed by the anticipation of inflation reverting to normal levels without succumbing to a recession. Adding to the momentum, investor enthusiasm for artificial intelligence (AI) has played a significant role in driving returns in the market.

Also Read |&nbsp;<a href="https://www.wionews.com/business-economy/ftc-prohibits-turbotax-maker-intuit-from-advertising-free-services-682776">FTC prohibits TurboTax maker Intuit from advertising 'free' services</a>

Moreover, the recovery may also be attributed, in part, to expectations among certain investors of potential interest rate cuts by the Federal Reserve&nbsp;as early as March.

Federal Reserve Governor Christopher Waller indicated early last week that the central bank anticipates rate cuts in the coming year but also called for a cautious approach, stating that decisions won't be made in a hurry.

Waller's comments initially caused treasury yields to surge and major stock indexes to decline.

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Since then, however, the stock market has shown resilience and climbed steadily.&nbsp;

If implemented, these cuts could reduce borrowing costs for both consumers and businesses, potentially stimulating economic activity through increased household spending and corporate investment.

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However, the Federal Reserve faces a delicate balancing act.
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This is because a swift interest rate cut could risk triggering a rebound in inflation. The concern is that heightened consumer demand might lead to an acceleration of price increases.

(With inputs from agencies)

Dow Jones Industrial Average achieved an unprecedented milestone, closing above the 38,000 mark for the first time in history on Monday (Jan 22). Accompanying this surge, the S&P 500 also notched a new record, closing at approximately 4,850, while the Nasdaq saw an uptick, reaching 15,360 at the close of Monday's trading session.

Dow Jones Industrial Average achieved an unprecedented milestone, closing above the 38,000 mark for the first time in history on Monday (Jan 22). Accompanying this surge, the S&P 500 also notched a new record, closing at approximately 4,850, while the Nasdaq saw an uptick, reaching 15,360 at the close of Monday's trading session. The early days of the year witnessed a sluggish performance across major stock indexes. However, a notable reversal occurred in the middle of last week, propelling the market to its current heights. Investors have been buoyed by the anticipation of inflation reverting to normal levels without succumbing to a recession. Adding to the momentum, investor enthusiasm for artificial intelligence (AI) has played a significant role in driving returns in the market. Also Read | FTC prohibits TurboTax maker Intuit from advertising 'free' services Moreover, the recovery may also be attributed, in part, to expectations among certain investors of potential interest rate cuts by the Federal Reserve as early as March. Federal Reserve Governor Christopher Waller indicated early last week that the central bank anticipates rate cuts in the coming year but also called for a cautious approach, stating that decisions won't be made in a hurry. Waller's comments initially caused treasury yields to surge and major stock indexes to decline. Also Read | Bitcoin plummets to $40,000, hits lowest point since ETF debut Since then, however, the stock market has shown resilience and climbed steadily. If implemented, these cuts could reduce borrowing costs for both consumers and businesses, potentially stimulating economic activity through increased household spending and corporate investment. Watch | Brazil's 're-industrialisation' plan × However, the Federal Reserve faces a delicate balancing act. This is because a swift interest rate cut could risk triggering a rebound in inflation. The concern is that heightened consumer demand might lead to an acceleration of price increases. (With inputs from agencies)

Dow Jones closes above 38,000, a record high as market registers recovery

The Dow industrials ended at a record high on Friday and major indexes closed a third consecutive week of gains as upbeat economic data and the start of earnings season gave investors confidence. 
 
But equity futures fell after the closing bell following reports of a coup in Turkey. The military said it had seized power, but the Turkish Prime Minister later asserted the attempted coup was put down. 
 
&quot;US (Treasury) yields have fallen, the Turkish lira plummeted, gold is up, you could call it a textbook response to this kind of situation,&quot; said Brian Jacobsen, chief portfolio strategist at Wells Fargo Funds Management in Menomonee Falls, Wisconsin. 
 
&quot;How it plays out depends on what the effects are by the time markets open on Monday. It is unclear right now who is in control,&quot; he said.&nbsp; 
 
A US exchange-traded fund that follows the Turkish stock market dropped sharply near the end of the session and was down 6 per cent after the bell. 
 
S&amp;P 500 e-mini futures hit a session low down 0.65 per cent after the reports, but pared the loss and were down 0.5 per cent. 
 
Jacobsen added: &quot;I don`t think this spills over to other countries. This isn&rsquo;t like the Arab Spring of 2011 where there was a cascade of anti-government protests in favour of democratic reforms. The issues Turkey is wrestling with seem unique to Turkey.&quot; 
 
&#39;US retail sales rose more than expected in June&#39;&nbsp; 
 
During the normal-hours session, consumer stocks led declines on the S&amp;P 500 while the financial sector posted a less than 0.2 per cent drop, even as Wells Fargo, whose profits fell in the second quarter, fell 2.5 per cent to $47.71 to rank as the largest weight on the S&amp;P. 
 
But expectations for S&amp;P earnings ticked up to a 4.7 per cent decline from a view of a 5-per cent drop earlier in the week, cementing hopes that an earnings contraction bottomed in the first quarter. 
 
Adding to investor confidence, US retail sales rose more than expected in June, bolstering views that economic growth picked up in the second quarter. 
 
&quot;When you go into earnings season with negative bias in the market it bodes well for stocks. Any positive surprises will force shorts to cover and gives an upbeat tone,&quot; said Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey. 
 
Three major indexes close their third week of gains&nbsp; 
 
The Dow Jones industrial average, DJI, rose 10.14 points, or 0.05 per cent, to 18,516.55, the S&amp;P 500 lost 2.01 points, or 0.09 per cent, to 2,161.74 and the Nasdaq Composite dropped 4.47 points, or 0.09 per cent, to 5,029.59. 
 
The Dow closed at a record high and joined the S&amp;P 500 in posting fresh intraday historic highs. The three major indexes closed their third week of gains, a period in which the S&amp;P advanced more than 6 percent. 
 
Market reaction on Friday to a Thursday attack in France that killed more than 80 people was limited to declines in travel and leisure company shares. 
 
Herbalife jumped 9.9 percent to $65.25 after the weight-loss products maker agreed to pay $200 million and change the way it does business to avoid being labelled a pyramid scheme by regulators. 
 
Advancing issues outnumbered declining ones on the NYSE by a 1.20-to-1 ratio; on Nasdaq, a 1.12-to-1 ratio favoured advancers. 
 
The S&amp;P 500 posted 26 new 52-week highs and no new lows; the Nasdaq Composite recorded 77 new highs and 18 new lows. 
About 6.1 billion shares changed hands in U.S. exchanges, below the 7.8 billion daily average over the past 20 sessions.&nbsp; 
 
(Reuters)&nbsp; 
 
&nbsp;

'US (Treasury) yields have fallen, the Turkish lira plummeted, gold is up, you could call it a textbook response to this kind of situation'

The Dow industrials ended at a record high on Friday and major indexes closed a third consecutive week of gains as upbeat economic data and the start of earnings season gave investors confidence. But equity futures fell after the closing bell following reports of a coup in Turkey. The military said it had seized power, but the Turkish Prime Minister later asserted the attempted coup was put down. "US (Treasury) yields have fallen, the Turkish lira plummeted, gold is up, you could call it a textbook response to this kind of situation," said Brian Jacobsen, chief portfolio strategist at Wells Fargo Funds Management in Menomonee Falls, Wisconsin. "How it plays out depends on what the effects are by the time markets open on Monday. It is unclear right now who is in control," he said. A US exchange-traded fund that follows the Turkish stock market dropped sharply near the end of the session and was down 6 per cent after the bell. S&P 500 e-mini futures hit a session low down 0.65 per cent after the reports, but pared the loss and were down 0.5 per cent. Jacobsen added: "I don`t think this spills over to other countries. This isn’t like the Arab Spring of 2011 where there was a cascade of anti-government protests in favour of democratic reforms. The issues Turkey is wrestling with seem unique to Turkey." 'US retail sales rose more than expected in June' During the normal-hours session, consumer stocks led declines on the S&P 500 while the financial sector posted a less than 0.2 per cent drop, even as Wells Fargo, whose profits fell in the second quarter, fell 2.5 per cent to $47.71 to rank as the largest weight on the S&P. But expectations for S&P earnings ticked up to a 4.7 per cent decline from a view of a 5-per cent drop earlier in the week, cementing hopes that an earnings contraction bottomed in the first quarter. Adding to investor confidence, US retail sales rose more than expected in June, bolstering views that economic growth picked up in the second quarter. "When you go into earnings season with negative bias in the market it bodes well for stocks. Any positive surprises will force shorts to cover and gives an upbeat tone," said Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey. Three major indexes close their third week of gains The Dow Jones industrial average, DJI, rose 10.14 points, or 0.05 per cent, to 18,516.55, the S&P 500 lost 2.01 points, or 0.09 per cent, to 2,161.74 and the Nasdaq Composite dropped 4.47 points, or 0.09 per cent, to 5,029.59. The Dow closed at a record high and joined the S&P 500 in posting fresh intraday historic highs. The three major indexes closed their third week of gains, a period in which the S&P advanced more than 6 percent. Market reaction on Friday to a Thursday attack in France that killed more than 80 people was limited to declines in travel and leisure company shares. Herbalife jumped 9.9 percent to $65.25 after the weight-loss products maker agreed to pay $200 million and change the way it does business to avoid being labelled a pyramid scheme by regulators. Advancing issues outnumbered declining ones on the NYSE by a 1.20-to-1 ratio; on Nasdaq, a 1.12-to-1 ratio favoured advancers. The S&P 500 posted 26 new 52-week highs and no new lows; the Nasdaq Composite recorded 77 new highs and 18 new lows. About 6.1 billion shares changed hands in U.S. exchanges, below the 7.8 billion daily average over the past 20 sessions. (Reuters)

Dow ends at record high but futures fall flat after attempted coup in Turkey

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Dow Jones closes above 38,000, a record high as market registers recovery

Dow ends at record high but futures fall flat after attempted coup in Turkey