The Dow Jones Industrial Average rallied on the first trading day of 2018, as the record pace of U.S. stocks continues into the new year.
After closing out a banner 2017, there is little let up in sight for U.S. markets, or Canadian stocks for that matter, in the first trading day of the year.
The three major U.S. indices, the Dow, NASDAQ and the S & P 500 were up an average of 19 per cent in 2017, whereas the TSX, also at record highs was up just over five per cent.
The Dow closed 104 points higher on Tuesday as investors’ confidence remains strong given low unemployment numbers, pending income tax cuts and what looks like record holiday sales for retailers.
For Canada, it looks like a little trickier road, but with energy prices on the rebound and financial stocks still strong, investors are optimistic going into 2018.
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