DJIA Today: Dow Jones Futures Add to Record-Setting Rally


The major averages ended the day firmly in positive territory.

The S&P 500 climbed 3.53 points to 2,446.78, while the tech-heavy Nasdaq was up 11.22 points at 6,272.40.

In her semi-annual address to Congress this week, Federal Reserve Chairwoman Janet Yellen urged caution in tightening policy and clarified past remarks about the health of the financial system.

In another sign of positivity on the global economy, the Bank of Canada raised interest rates by 0.25 per cent - its first rate hike in nearly seven years.

Paul Ashworth, Chief US Economist at Capital Economics noted Yellen did not offer specific guidance on the timing of either the next interest rate hike or when balance sheet normalization would begin.

He added, "It makes a lot more sense to wait and absorb another couple of months' worth of data, before providing a stronger steer to the markets around the time of the Jackson Hole conference".

DJIA Today: Dow Jones Futures Add to Record-Setting Rally
DJIA Today: Dow Jones Futures Add to Record-Setting Rally

The estimate offset solid import data from China, the world's biggest energy consumer, which showed crude imports for the month of June rose 19% from a year ago to 8.79 million barrels per day.

NZX Ltd was 3.5 percent higher making it the top percentage gainer on the main index, while Auckland International Airport was the top performer by index weight, 1.8 percent higher. Despite the indexes' gains, there were three down stocks for every two higher on the Nasdaq. With the gain, the index reached a seventeen-year closing high.

Another record close for the Dow as Wall Street closed higher on Friday. Japan's Nikkei 225 Index fell by 0.5%, while China's Shanghai Composite Index dipped by 0.2%.

The Australian share market is set to open higher, following the strong leads given by U.S. and European markets.

On the stocks, Delta shares were down 1.3 percent in premarket trading, after the No.2 USA airline's quarterly profit missed analysts' expectations.

More news: Clay Aiken: 'Trump didn't decide who got fired on "Apprentice"'