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 January 12, 2018 - 10:18 AM EST
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Stocks Hit More Intraday Highs

Stocks Hit More Intraday Highs

Equities south of the border traded at record highs on Friday as investors bet on a strong corporate earnings season.

The Dow Jones Industrials triumphed 142.21 points to open the week's last session at 25,716.94

The S&P 500 acquired 8.2 points to 2,775.76, with energy as the best-performing sector.

The NASDAQ composite index gained 8.91 points to 7,220.69

The S&P 500 and NASDAQ have closed lower only once this year, while the Dow has fallen just twice. For 2018, the major averages were up at least 3.5% entering Friday's session.

J.P. Morgan Chase, BlackRock and Wells Fargo all reported better-than-expected quarterly results.

S&P 500 profits are expected to have risen 11.2% in the fourth quarter of last year. All 11 S&P 500 sectors, meanwhile, are expected to post increases in both earnings and revenue. This would be the first time since 2011 that all the sectors in the S&P 500 posted sales and profit growth for the same quarter.

Recent data suggests the stateside economy is picking up steam. The U.S. Labor Department said its Consumer Price Index excluding the volatile food and energy components rose 0.3% last month. That was the biggest advance in the so-called core CPI since January.

Prices for the benchmark 10-year Treasury note faded, raising yields to 2.57% from Thursday's 2.54%. Treasury prices and yields move in opposite directions.

Oil prices dipped 23 cents a barrel to $63.57 U.S.

Gold prices grew $3.90 to $1,326.40 U.S. an ounce.


Source: Livemoney US Market Commentary (January 12, 2018 - 10:18 AM EST)

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