Dow Jones Industrial Average Rises For Fifth Straight Session

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July 19, 2018 6:20am INDEXDJX:.DJI NYSE:DIA

From Zacks: The market had a rather cool reception to the big banks when they kicked off this earnings season on Friday, but today the group led the major indices higher. Along the way, the Dow pushed its winning streak to five sessions and the S&P spent another day atop 2800.

The Dow advanced 0.32% on Wednesday (or nearly 80 points) to 25199.3, while the S&P rose 0.22% to 2815.6. Morgan Stanley was a big help, as the investment bank increased 2.8% after beating expectations for earnings and revenue. It led the way higher for counterparts like JPMorgan (+0.93%) and Citigroup (+0.72%), among others.

Outside of the financials, other big winners today included airline United Continental Holdings (+8.8%) and railroad company CSX (+7.08%). Both recently reported strong quarters (of course) and helped the transports as a whole.

The only straggler of the Big 3 was the NASDAQ…but just barely. It slipped by a miniscule 0.01% (or less than 1 point) to 7854.4. The disappointing thing about this breakeven performance was how close it came to making a second straight all-time high. Oh well, it only needs to gain two points tomorrow to make a new record.

Thankfully, trade issues have taken a backseat for now to make room for earnings season, which should be a good one with total earnings for the S&P expected to rise more than 19%. The big announcement after the bell came from IBM, which reported largely in-line numbers and is up a little more than 2% after hours as of this writing.

The SPDR Dow Jones Industrial Average ETF (DIA) fell $0.51 (-0.20%) in premarket trading Thursday. Year-to-date, DIA has gained 2.73%, versus a 5.74% rise in the benchmark S&P 500 index during the same period.

DIA currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #3 of 81 ETFs in the Large Cap Value ETFs category.

This article is brought to you courtesy of Zacks Research.

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