Asian Indexes

	Index	Country	Change	% Change	Level	Last Update
	Australia ASX All Ordinaries	Australia	+9.50	+0.16%	5,833.20	7:38pm ET
	Shanghai SE Composite Index	China			3,136.75	2:29am ET
	Hang Seng	Hong Kong			22,935.35	3:09am ET
	Mumbai Sensex	India			27,140.41	7:06am ET
	Nikkei 225	Japan	-259.10	-1.34%	19,105.57	7:38pm ET
	Taiwan TSEC 50 Index	Taiwan			9,345.74	7:48am ET

 

 

Symbol	Name	Price		Change	%Change
DJIA	Dow Industrials	19954.28		98.75	0.50%
S& P 500	S& P 500 Index	2275.32		6.42	0.28%
NASDAQ	NASDAQ Composite	5563.65		11.83	0.21%

 

Nasdaq notches record closing high despite health care weakness after Trump news conference

U.S. equities closed higher in choppy trade on Wednesday, shrugging off a sharp decline in health care stocks following remarks made by President-elect Donald Trump.

The Nasdaq composite fell after Trump made his remarks, as the iShares Nasdaq Biotechnology ETF (IBB) fell 3 percent. The tech-heavy index, however, ended the session 0.2 percent higher at a record closing level. Shrugging off a 1 percent decline in health care. Energy stocks led the way in the S & P, rising 1.2 percent.

Randy Frederick, vice president of trading and derivatives at Charles Schwab, said the stock market has largely given Trump the benefit of the doubt. He said that would change after the inauguration. " After that point, his actions will become more important versus what he Says, " he said.

The Dow Jones industrial average closed about 99 points higher, with Goldman Sachs and IBM contributing the most gains. The blue-chips index briefly turned lower after Trump' s remarks on the pharmaceutical industry.

Investors came into the news conference looking for clues about his proposed policies. Stocks in the US have rallied sharply since Trump' s victory, amid hope that the incoming administration will cut corporate taxes, deregulate certain sectors and inject fiscal stimulus into the economy. Trump' s news conference Concluded without him providing details on these policies.

" We need some concrete numbers. We have not sold off because there has been been a reason to do so. That said, you' re dealing with some pretty nervous longs here," said JJ Kinahan, chief market strategist at TD Ameritrade .

" Our hope is that these three policies will be enacted and a more pragmatic approach will be taken to trade and immigration," said Jon Adams, senior investment strategist at BMO Global Asset Management. He also said he expects Trump to wait until the after the Inauguration to provide more guidance on his policies.

Since said, some of the president-elect' s tweets have raised concerns among investors. Since Nov. 8, Trump has taken to Twitter to criticize companies that planned to send jobs overseas than than create them in the United States. He has also threatened to levy A high border tax against those firms.

Overseas, European equities traded higher, with the pan-European Stoxx 600 index advancing 0.23 percent. In Asia, Chinese stocks closed lower overnight, with the Shanghai composite dropping 0.79 percent, while the Japanese Nikkei 225 recorded a gain of 0.33 percent.

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Symbol	Name	Price		Change	%Change
DJIA	Dow Industrials	19855.53		-31.85	-0.16%
S& P 500	S& P 500 Index	2268.90	---	UNCH	0%
NASDAQ	NASDAQ Composite	5551.82		20.00	0.36%

 

U.S. equities closed mixed   Health care lifts Nasdaq to new record closing high Street awaits Trump

U.S. equities closed mixed after a choppy session on Tuesday, as the Nasdaq composite notched a fresh record high, while investors prepared for a key news conference from the U.S. president-elect.

" For the past few weeks, you' re seeing a tug-of-war between bulls and bears," said Adam Sarhan, CEO at 50 Park Investments. " The market continues to wait for a catalyst."

The Nasdaq hit a new intraday record and posted a new closing high, as health care stocks rose. The S & P 500 closed unchanged for the first time in nine years, with consumer discretionary leading advancers and real estate lagging. The Dow Jones industrial average fell about 30 points, after briefly flirting with the psychologically important 20,000 mark.

" Clearly, the breadth [in the market] has declined," said Maris Ogg, president at Tower Bridge Advisors. " There are some near-term concerns. The near-term concern I have is the rising dollar.

Trump is scheduled to hold a news conference Wednesday at 11 a.m. ET. " Investors are going to want to hear what he has to say, and whether he' s changing his tone," said Peter Cardillo, chief market economist at First Standard Financial.

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