Stock Markets Hit Record Highs

Stock benchmarks push to new records in early action

A key world stock market index extended gains on Friday, putting it on track for its longest weekly winning streak since 1999, while Intel's results boosted stocks on Wall Street and the US dollar remained weak after an official's recent comments.

Stocks around the globe also rose.

Shares of Intel Corp jumped more than 10 percent and hit their highest level since October 2000 a day after the company reported quarterly results. Economists were expecting a gain of 3 percent.

Technology and health care companies are leading stocks broadly higher in midday trading on Wall Street.

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According to a data set by FactSet, 77 percent companies have reported better than expected earnings whereas 79 percent were those who experienced and reported better than expected rates.

Another set of data showed new orders for key USA -made capital goods unexpectedly fell in December.

At the World Economic Forum in Davos, Switzerland on Wednesday, Mnuchin said he welcomed a weaker US dollar, adding that it would benefit the country's trade. The Nasdaq Composite Index, however, finished in negative territory but mostly flat on the day as technology shares have bounced around over the past two sessions.

Canada's main stock index rose on Friday, led by shares in Bombardier, which closed up 15 per cent after it won an unexpected trade victory against USA planemaker Boeing Co.

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The Standard & Poor's 500 index rose 6 points, or 0.2 percent, to 2,844.

In a weekly note on capital flows, Bank of America Merrill Lynch analysts said that 98 percent of global equity markets are now trading above 50 and 200-day moving averages, though the pace of the melt-up meant a correction was now increasingly likely. Still, 2017 was one of the best economic runs in years.

Bond prices fell. The yield on the 10-year Treasury rose to 2.66 percent.

Bond prices rose. The yield on the 10-year Treasury fell to 2.62 percent. Brent crude futures settled up 10 cents, or 0.1 percent, at $70.52 per barrel, while US crude futures closed at $66.14, up 63 cents, or almost 1 percent. The Nasdaq composite rose 27 points, or 0.4 percent, to 7,442.

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Gold also rose with the dollar's decline. Rockwell also experienced some advancement as it increased by 0.7 percent. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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