Dow Rises to New Record

Dow Rises to New Record

(MENAFN- Baystreet. ca) Dow Rises to New Record Advertisment The Dow Jones Industrial average rose for a second day to start 2022 as investors bet on the kinds of stocks that would benefit from a robust economy this year despite the omicron threat. The blue-chip index stayed tall and proud by noon hour, gaining 241. 61 points to 36, 826. 67, an intraday record. The much-broader S&P 500 index eased back from its intraday, losing 4. 53 points to 4, 792. 03. The NASDAQ swooned 258. 38 point, or 1. 6%, at 15, 574. 52. Losses in tech shares that were big winners last year like Nvidia and Tesla, weighed on the broader market. On the winning side in the session were stocks like banks, which stand to benefit from the rise in rates. JPMorgan Chase, American Express and Goldman Sachs were among the biggest gainers in the Dow. Caterpillar and other stocks linked directly to the economic recovery also boomed. Energy shares like Chevron added 2%. Halliburton shares jumped 5% as crude prices rose and Morgan Stanley upgraded the oil services company. On the losing side in the session were tech names with high valuations as investors rotated out