Toronto stock market lower as Dow Jones cruises past 23000 record

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Banks and technology companies led USA stocks modestly higher Wednesday, delivering another set of market milestones.

The Dow Jones Industrial Average was up 29.42 points, or 0.13 percent, at 22,986.38, after briefly hitting the 23,000 mark earlier.

The Dow Jones, which tracks 30 of the biggest United States listed companies, has hit new records several times over the last month on expectations of strong company profits and hopes that President Donald Trump will win backing for his tax cut plan.

The Toronto Stock Exchange's S&P/TSX composite index was down 34.74 points to 15,782.16.

That, along with a 3.6 percent rise in Johnson & Johnson, led a 1.5 percent gain in the S&P healthcare sector. The S&P 500 .SPX gained 4.3 points, or 0.16 percent, to 2,563.66.

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The Dow added 285.88 points, or 1.3 percent.

The Nasdaq is up 1,241.10 points, or 23.1 percent.

The Russell 2000 index of smaller-company stocks picked up 7.65 points, or 0.5 percent, to 1,505.14.

Dow 23,000 is the fifth time the index hit a thousand-point milestone since Trump was elected in November.

Goldman Sachs was another contributor to the Dow's gains, jumping almost 2 percent to $240.55 in early trades - just one day after the company reported results that beat expectations but still lagged peers.

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