Dow rises 85 points to record high as Wall Street awaits Netflix earnings: click here
Dow rises 85 points to record high as Wall Street awaits Netflix earnings
U.S. stocks hit record highs on Monday as Wall Street looked ahead to the release of 's quarterly results.
The gained 85.24 points to close at 22,956.96. JPMorgan Chase shares rose 2 percent to lead the 30-stock index.
Shares of Apple rose 1.8 percent after analysts at KeyBanc Capital Markets upgraded the stock to overweight from sector weight, noting the company in 2018.
The finished 0.2 percent higher at 2,557.64, with telecommunications and financials leading advancers. Losses in real estate and health care capped gains on the S&P 500.
The advanced 0.3 percent to 6,624. The three indexes reached record intraday and closing highs.
he president also talked about drug prices on Monday. Trump said from the White House that prescription drug prices are "out of control."
"If you look at the exact, same drug by the exact same company made in the exact same box and sold someplace else, sometimes it's a fraction of what we pay in this country," Trump said.
Trump's remarks sent health-care stocks lower, with the exchange-traded fund (XLV) sliding 0.5 percent.
"We've seen this movie before," said Mike Bailey, director of research at FBB Capital Partners, noting that Trump has made similar comments in the past. "I would expect this to be more of a short-term knee-jerk reaction than a material, long-term change in the sector.
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