Global stocks mostly higher on strong Chinese growth

Image Courtesy Twitter @Nasdaq

The broad-based S&P 500 lost 0.2 per cent at 2,798.03, while the tech-rich Nasdaq Composite Index slipped less than 0.1 per cent to 7,296.05. General Electric ( GE ) had the Dow's sharpest loss after the New York Post said Nelson Peltz's Trian Fund Management is pushing the company to explore possible sales or spinoff of many of its businesses. The DJIA traded above 26,000 for the first time. Causes of recent rises in stock prices Trump's recent tax cuts promise to increase the profits of most U.S. companies and also the temporary cuts for individuals may stimulate demand.

Wall Street surged on Wednesday, with markets hitting new record highs as they shook off the weakness from a day earlier. According to financial research company FactSet, of the S&P 500 companies that had reported as of Friday, 69 percent have surpassed earnings-per-share estimates while 85 percent have beaten expectations on the top line.

Volume on USA exchanges was 6.93 billion shares, compared to the 6.3 billion average for the full session over the last 20 trading days.

Hopes of strong quarterly earnings, supported by steep cut in corporate taxes, and solid global economic growth have bolstered Wall Street's optimism in the start to 2018.

The euro retreated from a three-year high, down 0.24 percent to $1.2231, as investors sold the currency on doubts that the European Central Bank would back away from its pledge to keep buying bonds at next week's meeting. The S&P 500 closed down 9.82 points, or 0.4%, to 2,776, with eight of the 11 main sectors finishing in negative territory. Its share price rose +2.37%.

The recent climb by US stocks, spurred in part by synchronized global economic growth, has some investors wondering if there's too much short-term froth in the market.

Construction company with Chelmsford Prison contract goes into liquidation
Jim Kennedy, from the union Unite, said: "What is being discussed behind closed doors today has a real impact on each and every one of us".

Bank of America Corp.

Meanwhile, the dollar tried to break a four-session losing run on Tuesday, edging up as U.

Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., January 12, 2018.

The Stoxx Europe 600 climbed 0.1 percent. Britain's FTSE 100 declined 0.4 percent. Bitcoin futures on the Cboe Futures Exchange were up 1.67 percent at $11,240.

BP slid 2.9 per cent after the energy company said it would take a charge of about $1.7 billion in its fourth-quarter results as part of the settlement of the 2010 Deepwater Horizon spill.

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