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U.S. stock rally lifts Dow to initially close above 26,000 points

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Richard Drew/ AP Professional Michael Pistillo uses a “Dow 26,000” hat as he works on the flooring of the New York Stock Exchange, Wednesday, Jan. 17, 2018.

Published Wednesday, Jan. 17, 2018|1:21 p.m.

Upgraded 1 hour, 2 minutes ago

A broad rally on Wall Street moved the Dow Jones industrial average to close above 26,000 points for the first time Wednesday.

The sharp gains likewise delivered record highs for the Requirement & & Poor’s 500 index and the Nasdaq composite, erasing the marketplace’s modest losses from a day earlier.

Technology and health care companies represented much of the gains. Financials stocks also rose, even as some huge banks fell after reporting hefty quarterly losses.

“As the other day’s pullback recommends, financiers and traders will come back into a market in which they still see an upside,” said Quincy Krosby, primary market strategist at Prudential Financial. “But the market remains overbought, and an overbought market is prone to a pullback.”

The Dow gained 322.79 points, or 1.3 percent, to 26,115.65.

The S&P 500 index increased 26.14 points, or 0.9 percent, to 2,802.56. The Nasdaq included 74.59 points, or 1 percent, to 7,298.28. The Russell 2000 index of smaller-company stocks got 13.69 points, or 0.9 percent, to 1,586.66.

The Dow traded above the 26,000-point limit on Tuesday, but ended up closing lower. Its surge Wednesday was driven in part by a gain in Boeing, which published the biggest gain in the 30-company average.

With the stock market reaching records so often, 1,000-point moves in the Dow have actually become increasingly prevalent. It’s been just 8 trading days given that the Dow had its first close above 25,000 on Jan. 4. That’s faster than the 23 days it took the Dow to go from 24,000 to 25,000 points.

The stock market is off to an outstanding start in 2018. The S&P 500 index has closed lower just twice this year. It topped last week with its seventh weekly gain in the past eight.

Investors have been motivated by strong international growth, increasing company earnings and the prospects for more corporate revenues thanks to the tax overhaul signed into law last month, which cut the top tax rate for corporations from 35 percent to 21 percent.

Innovation stocks were again some of the greatest winners. Lam Research study led the S&P 500 with a gain of $14.69, or 7.7 percent, to $205.08. Investors also bid up healthcare stocks, consisting of Anthem. The insurance company added $7.40, or 3.1 percent, to $249.15.

Commercial stocks rose after the Federal Reserve said U.S. commercial production increased 0.9 percent in December. Boeing rose $18.85, or 4.7 percent, to $351.01.

Juno Therapies soared 51.9 percent after the Wall Street Journal reported that biotech drugmaker Celgene might buy it. Juno is among a number of business establishing therapies that include genetically engineering clients’ blood cells to combat cancer. Juno increased $23.65 to $69.25. Celgene fell $2.80, or 2.7 percent, to $102.02.

Some big companies were left out of Wednesday’s rally.

Ford Motor dropped 7 percent after the car manufacturer offered a disappointing profit forecast for the year due to the fact that of weaker sales in the United States, greater commodity expenses and its investments in brand-new electric and hybrid cars and trucks. The stock was the most significant decliner in the S&P 500, giving up 92 cents to $12.18.

Goldman Sachs and Bank of America also closed lower after their newest quarterly results dissatisfied Wall Street.

Goldman said it lost $1.93 billion in the fourth quarter as the investment bank needed to tape more than $4 billion in charges associated with the new tax law. Goldman’s trading desks had a weak quarter. The stock declined $4.81, or 1.9 percent, to $253.65.

Bank of America’s fourth-quarter profits fell by nearly half from a year earlier, as the bank needed to reserve $2.9 billion in charges related to the tax law. The stock moved 6 cents, or 0.2 percent, to $31.18.

U.S. crude included 24 cents to $63.97 per barrel on the New york city Mercantile Exchange. Brent crude, utilized to rate international oils, rose 23 cents to $69.38 a barrel.

Gold rose $2.10 to $1,339.20 an ounce. Silver dropped 2 cents to $17.17 an ounce. Copper fell 3 cents to $3.19 a pound.

The dollar increased to 111.13 yen from 110.30 yen on Wednesday. The euro fell to $1.2235 from $1.2271.

The rate of bitcoin extended its slide Wednesday, though by late afternoon it had actually pared most of its losses from earlier in the day. The digital currency fell 1.6 percent to $11,172, according to the tracking site CoinDesk.

Bitcoin futures on the Cboe Futures Exchange fell 2.6 percent to $10,820. The futures permit investors to make bets on the future price of bitcoin. Many financing pros believe bitcoin remains in a speculative bubble that could rupture at any time.

Heating oil futures acquired a penny to $2.07 a gallon. Wholesale gas included 2 cents to $1.86 a gallon. Natural gas picked up 10 cents, or 3.3 percent, to $3.23 per 1,000 cubic feet.

European markets completed lower. Germany’s DAX lost 0.5 percent, while the CAC 40 in France slipped 0.4 percent. Britain’s FTSE 100 declined 0.4 percent.

Japan’s Nikkei 225 index lost 0.4 percent, while the Kospi in South Korea shed 0.3 percent. Hong Kong’s Hang Seng rebounded from earlier losses to get 0.3 percent.

Intel releases a drone light show that dazzles above Bellagio

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Intel A drone program is on display over the Bellagio, Monday, Jan. 8

, 2018|2 a.m.

. The skyline above the Las Vegas Strip lit up Monday night, and not due to the usual flare from the well-known hotels but rather a first-of-its-kind drone light program.

Intel launched 250 Shooting Star drones over the Bellagio and synced up a dazzling display screen in the sky with the ever popular Water fountains of Bellagio show. The display screen followed Intel CEO Brian Krzanich’s keynote speech at the Park Theater at Monte Carlo.

The performances can be seen at 9 p.m. and 11 p.m. tonight and 8 p.m. and 10 p.m. Wednesday and Thursday tied to the annual CES program. CES includes the most recent in customer electronic devices at 11 websites around Las Vegas and has actually drawn over 175,000 participants this year.

Audiences will experience the drones lighting up the sky while the water fountains dance below to a version of the song “Stargazing” by Kygo.

The light shows are the first instance that coordinated drones have actually flown over Las Vegas Boulevard.

Intel has actually developed a new home entertainment idea by producing drone-based light reveals including hundreds of Intel Shooting Star drones all managed by one pilot. The drones are custom-made for entertainment purposes and include a light-weight structure and emit more than 4 billion color combinations.

The light programs have actually been included at Disney Springs, Coachella Music Celebration and throughout the 2017 Super Bowl halftime program with Woman Gaga.

Dow Jones industrials climb above 25,000 for the very first time

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Richard Drew/ AP In this Friday, Nov. 13, 2015, file image, the American flag flies above the Wall Street entryway to the New york city Stock Exchange.

Thursday, Jan. 4, 2018|7:53 a.m.

NEW YORK– The Dow Jones commercial average is trading above 25,000 points for the very first time early Thursday, breaking another milestone. The market was increasing broadly after a survey showed strong hiring by U.S. private businesses. Banks are leading the way as interest rates jump. European stocks are also rising.

KEEPING SCORE: The Requirement & & Poor’s 500 index climbed up 13 points, or 0.5 percent, to 2,726 since 10:25 a.m. Eastern time. The Dow Jones commercial average rose 166 points, or 0.7 percent, to 25,088. The Nasdaq composite added 15 points, or 0.2 percent, to 7,080. The Russell 2000 index of smaller-company stocks acquired 3 points, or 0.2 percent, to 1,555.

The Dow reached 24,000 on Nov. 30, just 23 trading days ago. Stocks have actually climbed up since then as investors hoped the Republican-backed tax bundle would enhance business profits this year. The law cuts the United States business tax rate substantially. The Dow broke through five 1,000-point milestones in 2017, on its way to a 25 percent gain for the year. The index has actually nearly quadrupled in worth from its low throughout the worldwide financial crisis and Great Economic crisis in early 2009.

STUDY SAYS: ADP stated private U.S. services added 250,000 tasks last month as health care, retail and professional services business worked with more employees. The survey suggests companies are optimistic about the economy and anticipate more need. The federal government will launch a jobs report Friday that covers both private business and governments. Financial experts forecast that will show a gain of 189,000 tasks, inning accordance with a survey by information service provider FactSet.

Meanwhile company activity in the 19-country eurozone reached its greatest level in nearly seven years. That’s based on a survey of production and services companies. One of the factors stocks have actually done so well over the in 2015 is the improved health of the worldwide economy as European nations and both establishing and advanced nations worldwide experience much better development after years of struggles.

European stock indexes climbed. France’s CAC 40 leaped 1.6 percent while Germany’s DAX got 1.5 percent. In Britain the FTSE 100 edged 0.3 percent greater.

BONDS: Bond rates sank, sending yields higher. The yield on the 10-year Treasury note increased to 2.48 percent from 2.44 percent. Banks made strong gains in early trading as increased rates of interest imply they can make more loan from home loans and other loans. JPMorgan Chase acquired $2.01, or 1.9 percent, to $109.51 and Wells Fargo rose $1.11, or 1.8 percent, to $62.67.

CHIP DIP: Intel continued to stumble after security researchers at Google found serious security flaws in its computer system processors. It lost $1.90, or 4.2 percent, to $43.36 after a 3.4 percent decrease Wednesday. Intel said it’s working to repair the problem which it’s not the only company impacted.

Rival Advanced Micro Gadgets stated it thinks its chips are safe and its stock jumped 83 cents, or 7.2 percent, to $12.38. Most of Intel’s rivals made huge gains Wednesday.

In other places among tech stocks, Google parent Alphabet climbed $11.30, or 1 percent, to $1,102.82 and Intuit included $2.44, or 1.5 percent, to $161.60.

MORE TESLA TROUBLE: Electric vehicle maker Tesla again stated it disappointed production objectives for its brand-new Design 3 sedan, which is planned to be its first lower-cost automobile. The shares skidded $8.47, or 2.7 percent, to $308.78.

ENERGY: Standard U.S. crude rose 7 cents to $61.70 a barrel in New York. Brent crude, utilized to price worldwide oils, shed 7 cents to $67.77 a barrel in London.

ASIA: Japan’s benchmark Nikkei 225 advanced 3.3 percent in the very first trading day of the year. South Korea’s Kospi lost 0.8 percent while Hong Kong’s Hang Seng added 0.5 percent.

CURRENCIES: The dollar rose to 112.79 yen from 112.52 yen. The euro reached $1.2083 from $1.2018.

Go above and beyond at Yearnings’ new Chef’s Table Experience

When is a buffet more than a buffet? When an already top quality experience is updated with a chef-curated selection of dishes served straight to the diner.

The chef’s table concept may seem an odd suitable for a standard Las Vegas buffet, however it has been worked into a few of the Strip’s most significant and best. And the brand-new Chef’s Table Experience at the Mirage’s Cravings is inexpensive and accessible. You’ll access to the whole Yearnings buffet, already among the very best out there, in addition to a special meal supplying the kitchen’s skilled craftsmen an opportunity to flaunt.

For an extra $20, visitors are seated at a special table and provided with 5 courses. The meal within a meal begins with a small caprese salad and assorted sushi, along with toasted garlic bread. From there, a more decadent salad including citrus and goat cheese is served together with a lovely charcuterie and cheese board that includes duck prosciutto and imported Spanish manchego cheese.

Entrées consist of a skillfully ready Angus beef sirloin with chimichurri and turkey roulades covered in bacon; grilled vegetables and velvety mashed potatoes function as the accompaniments. As an ending, a tableside discussion revives chocolate lava cake. Chefs paint a white serving board with chocolate and raspberry sauces, leading it with specific cakes as well as brûlée some marshmallows. The tastes match the spectacle.

If you’re planning to double down on your all-you-can-eat meal, Yearnings’ Chef’s Table makes for a worthwhile extravagance. The Chef’s Table Experience at Cravings at the Mirage, 702-791-7111; day-to-day 4-9 p.m.

Update: Newmark IPO Closes Above Revised Asking Rate

CRE’s Newest Publicly Traded Solutions Business Closes IPO 9.5% Above Friday Share Rate

Newmark and BGC Partners executives commemorate the opening of Newmark Group’s IPO by ringing the opening bell at Nasdaq on Friday.

Credit: Nasdaq Stock Market

Newmark Group, Inc. (Nasdaq: NMRK)today completed its initial public offering of 20 million shares of typical stock, generating a 9.5% return after downsizing its targeted IPO before trading began Friday morning.

Shares of Newmark, which is spinning off from its openly traded moms and dad BGC Partners, Inc. (Nasdaq: BGC), closed at $15.34 on Tuesday, a gain of 5% from Monday’s closing rate. The New york city City based company, which includes Newmark Knight Frank, downsized its targeted going public about 53% prior to the stock’s Friday launching, providing 20 million shares sold at in between $14 and $15 per share instead of the oroginally prepared 30 million shares priced at between $19 and $22 per share.

At the close of the IPO, Newmark public investors owned about 14.7% of the Class A typical stock, with 135.6 million shares exceptional, which could increase to 16.6% or 138.6 million shares outstanding if underwriters completely exercise their option to purchase up to an extra 3 million shares of its Class A common stock at the IPO rate over the next One Month.

On a completely diluted basis, Newmark’s public shareholders owned about 8.7% of Newmark’s 230.6 million shares outstanding, or approximately 9.8% of Newmark’s 233.6 million fully diluted shares exceptional if the underwriters exercise in full their choice to acquire extra shares of Newmark’s Class A typical stock. Completely diluted shares are the total variety of shares if all convertible securities of a business were exercised.

BGC Partners Chairman Howard W. Lutnick and Barry M. Gosin, chief executive office of NKF, rang the opening bell at the Nasdaq MarketSite in Times Square on Friday in honor of the IPO opening. BGC will keep all Newmark’s issued and outstanding Class B common stock shares following the offering’s completion.

Goldman Sachs, BofA Merrill Lynch, Citi, Cantor Fitzgerald, PNC Capital Markets, Mizuho Securities, Capital One Securities and Keefe Bruyette Woods are the joint book runners on the IPO.

Editor’s note: This upgrade includes Tuesday’s IPO closing price.

Black smoke seen above Vatican; junk backyard fire to blame

(Photo: Twitter: Mountain Butorac)( Picture: Twitter: Mountain Butorac)( Photo: Twitter: Mountain Butorac ). ROME( AP )- A junkyard fire in Rome has actually spread out through ditched cars, blowing up gas tanks and sending out a thick, dark plume of smoke through the northeastern quarter of the Italian capital. There have actually been no reports of injuries.

Authorities stated they left 3 apartment in the location Thursday afternoon as the blaze rapidly spread out through cars that were stacked one on top of the other for demolition. At least 50 cars and trucks set to be scrapped were involved.

Firemens stated the blaze was contained and they were working to reduce it. The cause wasn’t instantly understood.

Click here to see full Twitter account.

The big blaze brought traffic to a grinding halt. A city official, Pinuccia Montanari, said the fire showed the threats of having demolition lawns inside the city limits.

Smoke is clearing. However does smoke settle? Large dark cloud of smoke behind me now. Most likely from the same fire? pic.twitter.com/5txUHExjOG

— Mountain Butorac (@MountainButorac)

June 1, 2017 Copyright 2017 (Meredith Corporation). All rights reserved.

Above-normal temperatures anticipated this weekend in Las Vegas

Wednesday, Aug. 12, 2015|10:45 p.m.

Temperatures are expected to be above typical this weekend as dry air moves into the valley, dashing the hopes of rain lovers in the process.

Though there’s a 20 percent opportunity of showers and thunderstorms Thursday, temperature levels are expected to be 5 to 7 degrees above typical this weekend with bright skies, according to National Weather Service meteorologist Barry Pierce.

There was a 40 percent opportunity of rains in the forecast early Wednesday, however by the night, meteorologists believed there was no possibility of rain overnight, Pierce stated.

The high temperature Wednesday at McCarran International Airport hit 101 degrees, and high temperature levels need to remain between 104 and 110 through the weekend, he stated.

Lows are expected to be in the low to mid 80s throughout the exact same period.