Stock Market Today: October 18, 2017
Harvey S. Katz, CFA, Robert Mitkowski, and Robert Harrington | 10/18/2017
Amidst mostly mixed overall market breadth, the major U.S. equities traded higher for most of the day, driven by optimism stemming from corporate earnings season and an encouraging update from the Federal Reserve. The positive sentiment was driven once more by the Dow Jones Industrial Average, which broached the 23,000 threshold at the open and added to its daily gains as the session wore on. While recent strength would suggest some possible vulnerability down the road, the prospect of tax reform could well spur the blue chip index toward 24,000 by the end of the year. By the closing bell, however, both the S&P 500 and NASDAQ had fallen back toward their breakeven lines.