Business

Dow tops 22,000; Bank of England rate decision; Earnings bonanza

1. Dow's new high: The Dow Jones industrial average broke through the 22,000 points level for the first time ever on Wednesday.

Posted Updated
media-S067337154-300
By
Ivana Kottasov�

1. Dow's new high: The Dow Jones industrial average broke through the 22,000 points level for the first time ever on Wednesday.

A surge in Apple stock pushed the index past the milestone right after the opening bell. The average is up more than 20% since Trump's victory last November.

CNNMoney's Fear & Greed index of market sentiment is firmly in "greed" mode, suggesting the gains could continue.

While the initial rally was fueled by the Trump agenda, it's now being kept afloat by strong earnings and a steady U.S. economy.

2. U.K. economy health check: The Bank of England will announce its latest interest rate decision on Thursday. It will also release its quarterly inflation report, offering a detailed picture of the British economy.

The bank held rates at a record low of 0.25% at its last meeting in June, but the vote was split with three of the bank's eight policymakers backing a rate hike.

The U.K. economy has slowed down this year because of uncertainty over the country's exit from the European Union. Meanwhile, a sharp drop in the value of the pound has pushed inflation higher, putting pressure on consumers.

3. Global market overview: U.S. stock futures were lower on Thursday.

The Dow Jones industrial average gained 0.2% on Wednesday, while the S&P 500 added 0.1% and the Nasdaq closed flat.

European markets opened mostly down on Thursday. Indexes in Asia also suffered losses.

Before the Bell newsletter: Key market news. In your inbox. Subscribe now!

4. Stock market movers -- Wyndham Worldwide, Hologic: Shares in Wyndham Worldwide were up almost 5% in extended trading after the company announced it would spin off its hotel business. It owns the Ramada and Days Inn brands.

Hologic Inc slipped 5% in extended trading after the manufacturer of health diagnostic products reported a small dip in its profit.

5. Earnings and economics: Aetna, AMC Networks, Avon Products, Kellogg, Marriott Vacations, and Yum! Brands are among the hundreds of companies to report earnings before the open.

GoPro, Kraft Heinz, Shake Shack, Viacom, Weight Watchers and Western Union will follow after the close.

The Czech National Bank will announce an interest rate decision at 8:15 a.m. ET.

Analysts say there's a decent chance the central bank will hike rates for the first time in almost a decade -- perhaps signaling the beginning of the end of ultra-low rates in Europe.

Download CNN MoneyStream for up-to-the-minute market data and news

6. Coming this week:

Thursday -- Earnings from Weight Watchers, Hyatt Hotels, Yum Brands, GoPro and Kraft HeinzFriday -- U.S. Bureau of Labor Statistics releases monthly jobs and unemployment report

Copyright 2024 by Cable News Network, Inc., a Time Warner Company. All rights reserved.