Markets

Facebook shares sink as United States stocks add to records

Facebook shares sink as United States stocks add to records

The bank's shares rose 1.7 percent.

Rising retailers pushed USA stock indexes further into record territory on Friday, as the market's fabulous start to 2018 carried through its second week. The S&P 500 gained 2.31 points, or 0.083467 percent, to 2,769.87.

The Russell 2000 is up 31.96 points, or 2 percent. In fact, the roughly 4.3% rise for the Dow Jones Industrial Average and more than 4% rise for the S&P 500 index so far in 2018, represent the best start to a year since 2003, according to WSJ Market Data Group.

While tax-related costs are expected to weigh on banks' earnings, they are expected to benefit in the long run from lower tax burden.

The Dow Jones Industrial Average rose by 29 percent last year and the broader S&P 500 rose 22 percent, rare and breath-taking gains that simply can not be repeated every year.




The Dow is up 507.32 points, or 2 percent.

Xerox shares jumped 4.22 percent after the Wall Street Journal reported the copier maker was in deal talks with Japanese camera maker Fujifilm Holdings that could include a change in control of Xerox.

The Labor Department's Consumer Price Index, which excludes the volatile food and energy components, rose 0.3 percent last month.

Core CPI increased 1.8 percent in the 12 months through December, picking up from 1.7 percent in November.

Advancing issues outnumbered declining ones on the NYSE by a 1.17-to-1 ratio; on Nasdaq, a 1.54-to-1 ratio favored advancers. On the Nasdaq, 1,445 issues rose and 969 fell.


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