Dow Jones industrials close above 21000 for first time
With the rally on the day, the major averages all climbed to new record closing highs.
Wall Street notched another set of milestones Monday as the Dow Jones industrial average closed at a record high for the 12th consecutive time, the longest winning streak for the 30-company average in 30 years. The Nasdaq Composite fell 10 points, or 0.2%, to 5852, though it remains a few points shy of its own record.
Since US President Donald Trump's inauguration, there has been increased confidence in the market, although a "wait and see" attitude remains as the Republican's policies have yet to come to fruition.
While Trump's speech lacked details on his plans for tax reform and replacing Obamacare, investors seem relieved that he struck a softer, more optimistic tone.
JPMorgan Chase rose 2.6 percent and Goldman Sachs rose 2.1 percent, the biggest increases in the Dow.
Among the worst performers in the Dow Jones was Wal-Mart who have contributed to most of the losses while weak Target sales dragged the S&P 500 with a 10% decline in its own shares.
Among other stocks, Charles Schwab fell 3.2 percent after the company said it would cut its ETF trade and online equity fees, following similar cuts by Fidelity Investments.
The odds of a US interest-rate hike next month jumped above 50% on Monday after Dallas Fed President Rob Kaplan said a tightening might come in the near future (http://www.marketwatch.com/story/odds-of-march-fed-interest-rate-hike-spike-above-50-2017-02-27).
The rally was also fuelled by the probability of a rate surge by the Federal Reserve. The last time it posted a gain of more than 300 points was the day before the election.
Banks, which benefit from higher interest rates and have been among the biggest beneficiaries of the global stock market rally that followed Trump's election a year ago, rose three per cent, making them the biggest sectoral gainer in Europe. The S&P 500 leapt 32.32 points, or 1.37 percent, to 2,395.96. Trump repeated these pledges Tuesday evening in an address to both houses of congress, but has not offered many details of these plans.
In their present euphoric mood, investors are cheering the prospect of a United States rate hike, on the grounds that it will help boost bank profits and that it provides proof that the U.S. central bank is confident in the USA economic outlook.
Declassified crossover range rover velar
AS THE world's enthusiasm for Range Rover products shows no signs of diminishing, so Land Rover continues to create more variants. Both the 3.0-litre diesel and petrol models are also available as First Edition models costing £83,350 and £85,450 respectively.
Giants' complete 2017 NFL Draft order is set
If you like him, you think his game fell apart because he tried to do too much in the fourth quarter this year. He played left tackle there. " I think Ryan Ramczyk is the best tackle in the draft ".
World Rugby urged to change laws after Italy breakdown tactics confuse England
Even the positive fans of Italy know the daunting task, especially after their last two matches in which they were outplayed. England head coach Eddie Jones was unhappy with Italy's ruck tactics but Conor O'Shea was unapologetic.
All-Screen Galaxy S8 Will Do Something Very Different
Samsung didn't really catch the lime light at MWC 2017 as the launch of Smasung Galaxy S8 is chose to be on March 29. Samsung is touting the Tab S3's multimedia capabilities, as the slate has four speakers that've been tuned by AKG.
Antonio Brown signs deal with Steelers to become NFL's highest-paid WR
This is Brown's third contract with the Steelers who drafted him in the sixth round of the 2010 NFL Draft out of Central Michigan. Brown has already caught 50 touchdowns in his career and will, barring injury, surpass 1,000 catches in the 2017-18 season.
WIRED's Mobile World Congress round-up for 2017
The LG G6 is a smartphone that shows that instead of bringing minor upgrades to a popular smartphone, you can really innovate. In fact, its battery is non-removable which, among other things, sets an abyss between the new device and its predecessor.
Tom Perez Elected New DNC Chair
Earlier on Saturday, the committee angered the progressive wing of the party by voting against a ban on corporate lobbying. Ellison promptly provided Perez with a brief unity pitch, calling further factional conflict a waste of time and energy.
Malaysia reviewing diplomatic ties with North Korea
Khalid also brushed off speculation that Malaysia has contacted the China government and that it was planning to do so. Kim Jong-nam died after being assaulted by two women at KLIA2 while preparing to board a flight to Macau on Feb 13.
DeMarcus Cousins Calls Sacramento Kings Trade 'Dishonest'
The Kings shipped Cousins and forward Omri Casspi to New Orleans. "It's just a matter of putting it all together", says Gentry. The Kings traded the former LeFlore High School star to the Pelicans in a deal involving five players and two draft picks.
AMD Unveils Cheap, Powerful Flagship Ryzen CPUs
If you want the full low-down on the Ryzen chips and the Zen architecture check out our guide to AMD's Ryzen. However, after Intel came out with the Core series of chips in the middle of the last decade, AMD retreated.