The stock markets opened to another round of all-time highs on Friday morning as the Nasdaq Composite was on track for its 11th straight record close. Under President Trump’s re-ordering of world trade and the American economy, the stock market has increased upwards of 84 percent adding $17 trillion in value.
All three of the major indexes held gains of about 0.2 percent in the opening minutes of trading. U.S. averages set new highs on Thursday with the Nasdaq breaking through the 9,000 level for the first time.
|I:DJI||DOW JONES AVERAGES||28660.81||+39.42||+0.14%|
|I:COMP||NASDAQ COMPOSITE INDEX||9039.437071||+17.05||+0.19%|
Tesla shares gained after the electric-car maker said the first Model 3 sedans produced at its Shanghai Gigafactory would be delivered on Monday. The company’s China business “will be front and center for investors over the next 12 to 18 months,” wrote Wedbush analyst Dan Ives.
Meanwhile, Apple was higher for a fourth straight day as shares look to close out 2019 with their biggest annual gain in a decade. The stock was up 83.8 percent year-to-date through Thursday.
Boeing shares climbed after the planemaker said general counsel Mike Luttig will retire next week. Luttig, who was a close adviser to former CEO Dennis Muilenburg, worked at Boeing for more than 13 years.
Anixter International rallied after Wesco International raised its bid for the networking and electrical systems provider to $93.50 a share in cash and stock. The offer comes after private-equity firm Clayton Dubilier & Rice agreed to buy the company worth $86.50 a share.
Elsewhere, Rite Aid squeezed higher for a sixth straight day following the company’s better-than-expected third-quarter results. Shares had gained 150 percent over the last five sessions.
Commodities held small gains with gold up 0.1 percent at $1,516 an ounce and West Texas Intermediate crude oil higher by 0.1 percent at $61.75 a barrel.
U.S. Treasurys were higher, pushing the yield on the 10-year note down 2.8 basis points to 1.877 percent.
Trading in Europe resumed on Friday following the Boxing Day holiday. Germany’s DAX rose 0.5 percent, France’s CAC gained 0.4 percent and London’s FTSE added 0.3 percent.
In Asia, the Shanghai Composite Index was off 0.1 percent, Tokyo’s Nikkei fell 0.4 percent and Hong Kong’s Hang Seng gained 1.3 percent.
–FoxBusiness and wire services