Warren Buffett, not Jimmy Buffet, that is – this weekend he sends his annual letter to Berkshire Hathaway shareholders
The streaky Dow on Thursday did what it hasn’t done in nearly four years: Finish higher for 10 consecutive trading days.
The Dow Jones industrial average hasn’t finished in the red since Feb. 8 — the day before President Trump promised a tax cut plan would be announced in a few weeks.
On Thursday, the Dow finished in the black for the 10th day in a row. That hasn’t happened since March 2013.
The blue chips climbed 0.2%, up 35 points to yet another all-time closing high of 20,810.32. Other major indexes:
► S&P 500, up less than 0.1% to 2363.81.
► Nasdaq composite, down 0.4% to 5835.51. It snapped a 15-day winning streak.
Blue chip stocks have been getting a lift from a number of tailwinds, ranging from optimism surrounding Trump’s economic plans and a realization that the economy, job market and corporate profits have been moving higher for months now.
As the dollar drops, and fears over US trade action may exaggerate capital outflows in China, Bitcoin has renewed its rally post-Golden Week to new record highs. The virtual currency is up 10 days in a row as we noted previously that the Chinese have discovered a workaround for the PBOC’s crackdown on Bitcoin exchanges.
Record highs in USD terms… (not yet record highs in Yuan terms)