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Dow, S&P 500, Nasdaq surge to records on strong earnings

Dow, S&P 500, Nasdaq surge to records on strong earnings

"The strong cyclical momentum, the ongoing reduction of economic slack and increasing capacity utilisation strengthen further our confidence that inflation will converge towards our inflation aim of below, but close to, 2 percent", Draghi told reporters in Frankfurt after a Governing Council meeting.

Solid gains in technology and health care stocks are sending major US indexes higher in early trading on Wall Street. Fourth-quarter gross domestic product increased at a 2.6 percent annual rate, the Commerce Department reported. Eastern Time, with economists polled by MarketWatch forecasting 240,000 claims.

Moreover, on the other hand, U.S stocks traded better and higher on Friday as the economy continues to report growth.

"While we remain bullish for the year as a whole, this is beginning to look a little too frothy for our liking", said James Barty, a Bank of America Merrill Lynch strategist, in a note on Thursday.

Traders are also likely to keep an eye on developments at the World Economic Forum in Davos, Switzerland, along with preliminary data on fourth quarter GDP and a report on durable goods orders in December. The greenback clawed back some of the losses after President Donald Trump said he ultimately wants the dollar to be strong.

Enbridge Inc. lost 1.1 per cent to $47.05, while TransCanada Corp. fell 0.8 per cent to $57.24.

President Donald Trump's comments Thursday in favor of a "strong dollar", a day after Treasury Secretary Steven Mnuchin said a weaker greenback would help USA trade balances in the short term, failed to put a lid on volatility and keep dollar bears in check.

The Dow Jones Industrial Average gained 219 points, or 0.8%, to 26,612 to complete a rise of 2.1% for the week. The Nasdaq Composite Index was down 3.89 points, or 0.05 percent, to 7,411.16.

The Russell 2000 index of smaller-company stocks added 2.06 points, or 0.1 percent, to 1,601.67.

Stock futures pared gains on Friday after data showed US economic growth unexpectedly slowed in the fourth quarter.

Starbucks dropped 4.23 per cent after it warned 2018 global cafe sales growth would be at the low end of its forecast.

Advancing issues outnumbered declining ones on the NYSE by a 1.20-to-1 ratio; on Nasdaq, a 1.54-to-1 ratio favored advancers. On the Nasdaq, 1,454 issues rose and 1,312 fell.

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