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Dow Rises Above 47000
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Stocks rallied Friday as investors weighed the latest data on inflation from the consumer-price index (CPI). The Dow booked its biggest weekly percentage gain since July.
IBM and Advanced Micro Devices created tailwinds for the main indexes after scoring a major quantum-computing win.
Thursday morning, Dow reported an adjusted per-share loss of 19 cents from sales of $10 billion. Wall Street was looking for a 31-cent loss from sales of $10.2 billion.
Major stock indexes finished mixed on a busy day of corporate news Tuesday, with the Dow Jones Industrial Average setting intraday and closing records, as several major companies reported quarterly results.
Easing trade war tensions and promise from early earnings reports has investors looking on the bright side to start the week.
Dow Inc.’s shares rose in premarket trading as improved volumes in the industrial unit helped reduce its loss from the previous quarter more than analysts expected.
Dow Inc. has restarted two polyethylene resin lines at its Freeport, Texas, site following an Oct. 6 fire, while a third line remains under evaluation. The site represents nearly half of the company's domestic polyethylene output.