Dow opens above 23000 on strong IBM results

Dow opens above 23000 on strong IBM results

Dow opens above 23000 on strong IBM results

Biogen rose $8.799, or 2.6 percent, to $344.47, while Anthem rose $3.50, or 1.9 percent, to $187.26.

While only a few companies have reported results so far, earnings are mostly looking good, noted Erik Davidson, chief investment officer for Wells Fargo Private Bank.

Netflix gained 1.6 percent during the session and rose another 2 percent after the bell following the release of its results.

Health care companies posted some of the biggest gains after strong earnings from UnitedHealth Group and Johnson & Johnson were announced.

Shares of the world's first big computing company jumped 7.65 percent, after the company reported quarterly revenue beat.

"You saw decent numbers from the banks but quirks here and there". This means that instead of the index being driven primarily by the largest companies (those with the largest market capitalization) within the index, it is driven by the highest-priced stocks.

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The Dow Jones Industrial Average hit a new intra-day high in early Wednesday trading, climbing 111.90 points to 23,109.34.

First, the Dow is a highly concentrated stock index.

The Republicans want to use the "budget resolution" to pave the way for the party later this year or next year to pass a major tax-cut bill without any Democratic support.

The 30-stock index ended 2016 at 19,762.60.

Hopes of US tax reform have received a boost lately after the House passed a $4.1 trillion budget.

Advancing issues outnumbered decliners on the NYSE by 1,669 to 815. That compares with the 5.9 billion daily average for the past 20 trading days, according to Thomson Reuters data.

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