MARKET SNAPSHOT: Dow Industrials See 100-point Climb As Banks, Health-care Stocks Rally

By Mark DeCambre and Victor Reklaitis, MarketWatch Features Dow Jones Newswires

Boeing adds more than 50 points to Dow industrials

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U.S. stock benchmarks on Tuesday afternoon carved out a series of intraday records, putting the S&P 500 and Nasdaq in position to register a sixth straight gain for 2018--its longest such streak starting a year since 2010 and last year, respectively.

What are stock benchmarks doing?

Dow Jones Industrial Average tacked on 126 points, or 0.5%, to 25,411, powered by sharp gains in Boeing Co.(BA)amid reports that the plane manufacturer had a backlog of deliveries in 2017 (https://www.cnbc.com/2018/01/09/boeing-caps-2017-with-record-deliveries-backlog.html), and Johnson & Johnson(JNJ).

Meanwhile, the S&P 500 index gained 8 points, or 0.3%, to 2,756, led by gains in health-care (XLV) and financial stocks (XLF).

The Nasdaq Composite Index picked up 17 points, or 0.2%, at 7,174.

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All three benchmarks as well as the small-cap focused Russell 2000 index and the Dow Jones Transportation Average posted intraday all-time highs.

On Monday, the Dow edged back by less than 0.1% from Friday's record close (http://www.marketwatch.com/story/dow-poised-to-stretch-out-historic-record-run-as-upbeat-mood-persists-2018-01-08), while the S&P 500 and Nasdaq both finished at fresh peaks.

The three main equity benchmarks have gained between 21% and 29% over the past 12 months, supported by factors such an expanding global economy, growth in corporate profits and enthusiasm over the Trump administration's tax cuts.

What could drive markets?

The upbeat sentiment that has kept the 2017 global stock rally running into the new year still has a grip on the market. Fresh data out Tuesday could give a lift to or dampen that enthusiasm.

Check out:MarketWatch's Economic Calendar (http://www.marketwatch.com/economy-politics/calendars/economic)

On the Federal Reserve front, Minneapolis Fed President Neel Kashkari, speaking at the suburban Minneapolis headquarters of conglomerate Cargill Inc., said the U.S. must wrestle with a fiscal deficit over the long term tied to the tax-cut legislation. He also said he wouldn't be surprised to see a burst higher for productivity, which has been elusive even as the job market remains healthy.

What are the data saying?

A December figure for small-business confidence showed a dip to wrap up the strongest year on record (http://www.marketwatch.com/story/small-business-sentiment-dips-at-end-of-strongest-year-on-record-nfib-2018-01-09). Separately, a reading of job openings for November dropped to a six-month low to 5.88 million, compared with 5.93 million in the previous month.

What are strategists saying?

"There is very little for markets to be taking too much notice of in the economic calendar today. The only real interest comes in the U.S. JOLTS jobs openings," said Richard Perry, a Hantec Markets analyst, in a note Tuesday.

"This reminds me of January 2000," said Kent Engelke, chief economic strategist, at Capitol Securities Management, which manages $4 billion in assets, referring to the nearly unceasing climb to records for stocks and the unease it can inspire.

"It's scary, the unrelenting advance," he added "I think that growth will be greater than anticipated and that will cause a change in the monetary [policy] timetable, which will have a negative impact on the [stock] averages]," Engelke said.

Which stocks look like key movers?

Shares in Target Corp.(TGT) jumped 3.7% after the retailer raised its fiscal fourth-quarter profit outlook, citing stronger-than-expected holiday sales (http://www.marketwatch.com/story/targets-stock-jumps-after-profit-sales-outlook-raised-in-wake-of-strong-holiday-sales-2018-01-09).

Eastman Kodak Co. (KODK) shares of the company soared by about 26% after the company said it was teaming up with company to create a blockchain and cryptocurrency (http://www.marketwatch.com/story/kodak-boards-the-blockchain-bandwagon-2018-01-09) to pay photographers.

Alibaba Group Holding Ltd.'s stock (BABA) rose by 1% after the Chinese e-commerce giant's founder, Jack Ma, promised to consider listing in Hong Kong (http://www.marketwatch.com/story/alibaba-will-consider-listing-in-hong-kong-says-jack-ma-2018-01-09).

Shares in Intel Corp.(INTC) shed 1.8% as CEO Brian Krzanich delivered a speech at CES late Monday. He detailed advances in virtual reality and other technologies, while also addressing the dark cloud hanging over chip makers (http://www.marketwatch.com/story/intel-ceo-notes-dark-cloud-of-concern-at-ces-moves-onto-a-vision-for-the-future-2018-01-09).

What are other assets doing?

European stocks (http://www.marketwatch.com/story/european-stocks-rise-for-5th-session-in-a-row-stay-at-highest-since-2015-2018-01-09) were gaining ground, and most Asian markets closed higher (http://www.marketwatch.com/story/asian-markets-continue-their-early-year-rally-2018-01-08). Oil futures (http://www.marketwatch.com/story/oil-prices-extend-recent-gains-hint-at-fresh-3-year-highs-2018-01-09) added to their recent advance, but gold futures were pulling back. The ICE U.S. Dollar Index was modestly higher.

(END) Dow Jones Newswires

January 09, 2018 13:06 ET (18:06 GMT)