Dow has highest-ever closing at over 20000 points

Dow has highest-ever closing at over 20000 points

Experts say the jump in stocks is also a reflection of the solid economy Trump inherited from former President Obama. "With bond yields increasing, we're seeing gradual moves from bonds to risk assets".

LUNAR NEW YEAR: Markets in China, Hong Kong, South Korea and other Asian countries are about to begin holidays of varying lengths to mark the lunar new year, curtailing trading across much of the region.

Aradhana Kejriwal, chief investment officer at JOYN, a Sandy Springs firm with $1.2 billion under management, believes investors have gotten too optimistic at a time when stocks are already pricey.

On Wednesday, Boeing rose 4 percent after its earnings and IBM gained 1.7 percent, helping to push the index over the top.

Several Georgia-based companies finished the day at or near record highs, including UPS, Delta Air Lines, Mohawk Industries, Veritiv and HD Supply.

Neil Wilson, senior market analyst at London brokers Capital, said: "It's psychologically huge and, after a bit of pullback ahead of the inauguration, really confirms that the "great rotation" from bonds to stocks is definitely upon us".

Tax refunds to be delayed for millions of low-income families
Filing your return without a W-2 or other required document makes it more likely your return will need manual review. Now, the deadline is the same, January 31, for the employer to get the form to both the employee and the government.

The Dow Jones Industrial Average was up 0.14 per cent at 20,099.53, the S&P 500 was down 0.04 per cent at 2,297.45 and the Nasdaq Composite had added 0.01 per cent to 5,656.79 at 3.19pm Thursday EST (0720 Friday AEDT). China's central bank has ordered the nation's lenders to strictly control new loans in the first quarter, people familiar with the matter said, in another move to curb excess leverage in the financial system.

The Dow crossed the 10,000 threshold three times - the first time on March 29, 1999, at the height of the dot-com boom.

The price of brent crude lifted 0.8 per cent to $US55.55 a barrel as investors balanced output cuts by OPEC and other oil producing nations against expanding USA crude stockpiles.

The Dow has set 17 new record closing highs since the 2016 Presidential election. The Bloomberg Dollar Spot Index slid 0.3 per cent, it fifth straight weekly decline. In currencies, the dollar failed to carry on its upward momentum from Tuesday.

On European markets, the Dax was up by 0.2pc, the CAC rose 0.3pc in Paris, while Spain's Ibex fell by 0.4pc.

The Keystone pipeline would help Canadian oil sands producers tap the world's largest refining market for their oil and boost the price they get for their crude.