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USA stocks go higher: Dow closes above 26000 for first time

USA stocks go higher: Dow closes above 26000 for first time

Those two stocks weighed most heavily on the Dow, which sagged just a day after closing above 26,000 for the first time. It's been just eight trading days since the Dow had its first close above 25,000 on January 4.

Equities closed lower on Tuesday after a sharp reversal from record levels.

"This might just be a little bit of a pullback, especially after yesterday's significant gain, until we get further into the earnings season", said Lindsey Bell, investment strategist at CFRA Research in NY. Many multinational corporations have announced onetime charges for bringing home money held overseas, but investors expect them to benefit in the long run from the decision to cut the standard tax rate from 35 percent to 21 percent and are bidding up their share prices. "A lot of that's just pro-business policies helped underpin a really rocket rally for stocks, and you know, we talked about deregulation and these tax cuts that we've seen - all that has pretty much underpinned a move higher for stocks", said Mark DeCambre, markets editor at MarketWatch.

The broader S&P 500 added 0.9 percent to close at 2,802.56, while the tech-heavy Nasdaq gained a full percentage point to settle at 7,298.28.

Industrial stocks rose after the Federal Reserve said US industrial production increased 0.9 percent in December. Goldman's trading desks had a weak quarter.

United States crude - West Texas Intermediate - is down 0.08% to US$63.90 a barrel. The Brent oil futures rose by 0.12 Dollars to 69.27 USD per barrel, and USA light WTI crude appreciated by 0.19 USD to 63.93 USD per barrel.

Gold rose $2.10 to $1,339.20 an ounce.

The dollar rose to 111.13 yen from 110.30 yen on Wednesday.

Yields on 10-year Treasury notes reached a 10-month high after China reported fourth-quarter growth that accelerated for the first time in seven years. Meanwhile, construction on new houses fell 8.2% in December to a 1.19 million annual rate, with economists polled by MarketWatch forecasting housing starts to total 1.28 million.

The benchmark notes US10YT=RR were last down 11/32 in price to yield 2.6163 percent, from 2.578 percent late on Wednesday. The digital currency fell 1.6 percent to $11,172, according to the tracking site CoinDesk. The futures allow investors to make bets on the future price of bitcoin.

Oil futures were trading lower. Natural gas picked up 10 cents, or 3.3 percent, to $3.23 per 1,000 cubic feet.

Factors contributing to the positive rise in the market include low inflation, low interest rates and low bond yields.

Japan's Nikkei 225 index lost 0.4 percent, while the Kospi in South Korea shed 0.3 percent.

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