Toronto stock market lower as Dow Jones cruises past 23000 record

Image Traders celebrate on the main trading floor of the NYSE as the Dow Jones Industrial Average passes 20,000 after opening of trading session in New York

Image Traders celebrate on the main trading floor of the NYSE as the Dow Jones Industrial Average passes 20,000 after opening of trading session in New York

"Every time we get a milestone like that, it seems like mainstream America pays more attention to financial markets", Art Hogan, chief market strategist at Wunderlich Securities, told CNBC.

"Right now, you're contending with earnings season and the fact that the market has run up leading up into the earnings season", Pavlik said.

"My view is it may pull back before staying above" that level.

The Dow Jones cruised past the 23,000 mark today, as hopes buoyed that President Donald Trump could make progress on implementing tax cut plans and with support coming from a raft of recent solid corporate earnings.

"The U.S. economic fundamentals are pretty good".

Canada's main stock index lost ground today, while USA stock markets hit new records with the Dow Jones sailing past the 23,000 mark. Since then, Caterpillar Inc CAT.N has been the largest percentage gainer within the index, with a more than 15 percent increase, while Boeing Co BA.N has contributed the most to the index's gain with close to 140 points.

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Those companies' rises were supported by their third-quarter results that beat market expectations, according to analysts. The Nasdaq Composite Index was down 0.35 points or 0.01 per cent to 6,623.66.

Also boosting some health insurers and U.S. hospital operators was news of a bipartisan deal in the U.S. Senate to stabilize Obamacare.

Investors are also awaiting the Fed's issue of the Beige Book, a periodic snapshot on the health of the US economy.

The Dow climbed 40.48 (+0.18 percent) to finish at 22,997.44, a new record.

During the session, declining issues outnumbered advancing ones on the NYSE by a 1.37-to-1 ratio; on Nasdaq, a 1.72-to-1 ratio favored decliners.

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