Wall Street continues to experience a series of record highs and lows. The Dow Jones Industrial Average hit new highs again. The index rose by 41.31 points and reached 26,252.12. For the first time ever, the Dow Jones closed a trading session above 26,000. Most notably, the growth was supported by investor’s optimism about corporate profits at the end of last year and the positive effect of the US tax reform.
All these factors helped the market to maintain upward momentum in 2018. The major indices rose by 6 percent since the beginning of the year. At the same time, recently some of them began to lose grounds reached earlier. The S&P 500 index fell by 1.59 and closed the trading session at 2,837.54. The Nasdaq Composite lost 45.23 dropping to 7,415.06. Moreover, several technology companies also suffered losses. The Apple shares fell by 1.6 percent after Toni Sacconaghi, an analyst at Bernstein, had forecast weak growth in iPhone sales this spring. The shares of Facebook, Amazon, and Alphabet also declined. One of the S&P 500 companies that showed the weakest performance is United Continental, its shares fell by 11.4 percent. The American Airlines shares declined by 6 percent, Delta Air Lines – by 5.2 percent, Southwest Airlines – by 4.7 percent.
