Markets Right Now: Dow Jones industrials cross 26000

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Fourth quarterly reports have fuelled a bull market as indexed companies experience strong earnings that are supported by United States tax reform and sustained global economic growth.

Stocks have picked up where they left off in 2017, with investors piling into the market as Wall Street analysts are boosting their projections of how much money US companies will make this year after Congress slashed the corporate tax rate late last year to 21% from 35%.

Shortly after the opening bell, the Dow Jones Industrial Average added 218.80 points, or 0.85 percent, to 26,021.99.

UnitedHealth rose 2.2 percent after the largest US health insurer reported results that beat analysts' estimates and raised its full-year profit forecast. The S&P 500 increased 16.11 points, or 0.58 percent, to 2,802.35.

Varney on Dow Hitting 26000: 'Inexplicable' That Mainstream Media Ignores Rally
Dow on track to top 26000 at open

The blue chip FTSE 100 index ended down 0.17 per cent at 7,755.93 points, retreating further from a record set last week and slightly underperforming the broader European market.

DEAL OR NO DEAL: Viacom slid 6.3 percent after following several reports saying the media company is not in talks to merge with CBS Corp. The stock picked up $4.28 to $232.92. The yield on the 10-year Treasury fell to 2.54 percent from 2.55 percent late Friday. Range Resources was down 65 cents, or 3.7 percent, to $16.93. S. dollar strengthened after four days of declines.

The U.S. stock and bond markets were closed on Monday in observance of Martin Luther King Jr. The euro rose to $1.2278 from $1.2181. Bitcoin futures on the Cboe Futures Exchange were down 12.1 percent to $12,130. The price of the digital currency, which soared past year after starting 2017 under $1,000, has been hurt amid signs of potentially increased scrutiny from governments. The gains for the MSCI index marked its third consecutive record. In Germany, the Dax added 0.35 per cent, while the French Cac 40 was up less than 0.1 per cent.

Hong Kong's benchmark Hang Seng Index rose to a record closing high, led by index heavyweight Tencent Holdings and Hong Kong Exchanges and Clearing. Sydney's S&P-ASX 200 shed 0.5 percent.

Serbian politician killed; Belgrade suspends talks in Brussels
An unknown gunman shot Ivanovic outside his office in north Mitrovica, a Serb enclave in Kosovo , on Tuesday morning. He was the leader of the Party "Freedom, Democracy, Justice" during those years.


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