Toronto stock market lower as Dow Jones cruises past 23000 record

Dow cracks 23,000 mark for the first time

The Dow Jones industrial average closed above 23,000 for the first time, thanks largely to IBM, which posted its biggest one-day gain since January 2009 after reporting strong quarterly results. The S&P 500 popped 4.3 points to 2563.66 and the Nasdaq gained 8.83 points to 6,632.48.

Banks and technology companies led USA stocks modestly higher Wednesday, delivering another set of market milestones.

The Dow Jones, which tracks 30 of the biggest U.S. listed companies, has hit new records several times over the last month on expectations of strong company profits and hopes that President Donald Trump will win backing for his tax cut plan. The Nasdaq Composite Index was down 0.35 points or 0.01 per cent to 6,623.66.

Unity deal offers hope for Palestinians
It has fought three wars with Israel since 2008 and the blockaded Gaza Strip has seen deteriorating humanitarian conditions. Hamas seized control of Gaza from Abbas's Fatah in a violent coup in 2007.

The Dow Jones Industrial Average .DJI rose 114.49 points, or 0.5 percent, to 23,111.93.

The blue-chip index has surpassed four similar 1,000-point milestones this year, indicating investor faith in the bull-run despite lofty stock valuations. Both the S&P 500 and the tech-heavy Nasdaq indices also hit fresh highs today. The latest 1,000-point increase was covered in roughly half the time it took the index to move from 21,000 to 22,000.

Anthem gained more than 3 percent after the health insurer said it signed an agreement with CVS Health to support the company's new pharmacy benefit management business.

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