Dow Hits Tenth Straight High

The Dow Jones Industrial Average closed at an all-time high for the 10th consecutive day Thursday, as the dollar slid for a second straight session after minutes from the Federal Reserve’s last meeting showed officials were confident they could raise interest rates gradually without triggering inflation. U.S. stocks pared losses.

The S&P 500 Index was up slightly, rebounding from a loss of as much as 0.3 percent earlier in the day, while the Dow added 0.16 percent. U.S. bonds moved higher with European debt. French bonds advanced after a pact between independent presidential candidate Emmanuel Macron and centrist Francois Bayrou helped ease fears the country could elect a leader who favors leaving the European Union. Crude climbed back above $54 after an industry report showed U.S. stockpiles fell.

Bloomberg

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.