US stocks close at new highs
Target Corp rises
Big financial stocks to report this week
CLOSE
US benchmarks closed higher Tuesday, with the Dow Jones up over 102 points at 25,385.
The S&P 500 added 3.58 at 2,751, while the tech heavy Nasdaq gained 6.19 at 7,163.
In oil, US crude added 1.99% to US$62.96 each.
In Toronto, the TSX is up 1.59 at 16, 319.
Target Corp (NYSE:TGT) was a notable gainer, adding nearly 3% to US$ 69.14 after the discount retailer joined peers to report positive comparable-store sales growth in the holiday period between November and December.
In tech, shares in Intel Corp (NASDAQ:INTC) were flat after chief executive Brian Krzanich delivered a speech at CES (Consumer Electronics Show) late Monday.
MID-SESSION
Wall Street shares were at new record highs at mid-session.
The Dow Jones soared up over 138 points at 25,42, while the broader-based S&P 500 added 10.70 points at 2,758.
The tech heavy Nasdaq gained over 22 points at 7,179.
In Toronto, the TSX added almost 31 points at 16,348.
Later this week, financial heavyweights BlackRock, J.P. Morgan Chase (NYSE:JPM) and Wells Fargo (NYSE:WFC) are reporting quarterly numbers, set to be closely watched by the markets.
OPEN
Another day, another record on Wall Street, despite the Dow dropping yesterday.
US benchmarks climbed to new highs in early deals on Tuesday.
The Dow Jones Industrial Index gained over 66 points at 25,349, while the broader based S&P 500 added 5.22 at 2,752. The tech heavy Nasdaq gained 7 points to stand at 7,164 ion what was fairly busy volume trade
US crude - West Texas Intermediate - added 0.62% to stand at US$62.07 a barrel.
Lending support to US oil prices, weekly data from Baker Hughes at the end of the week showed that the number of rigs drilling for new oil fell to 742 from 742.
In stocks, Target Corp (NYSE:TGT) shares added 2.47% to US$68.82 after the discount retailer lifted short and long term guidance on the strength of better-than-expected holiday sales in the fourth quarter and newly instated tax rules in the US.
Meanwhile, a notable loser was Acuity Brands Inc (NYSE:AYI), which tanked 10.84% to stand at US$165.59.