Arab Today, arab today dow hits new record alibaba soars in debut
Last Updated : GMT 12:33:48
Arab Today, arab today
Arab Today, arab today

Dow hits new record, Alibaba soars in debut

Arab Today, arab today

Arab Today, arab today Dow hits new record, Alibaba soars in debut

A trader works on the floor at the New York Stock Exchange
New York - AFP

The Dow Friday notched its third straight record high in mixed Wall Street trade as shares of Chinese Internet company Alibaba soared following a record initial public offering.
The Dow Jones Industrial Average advanced 13.75 points (0.08 percent) to close at 17,279.74.
The S&P 500 finished down 0.96 of a point (0.05 percent) at 2,010.40, narrowly missing a record high a day after setting one. The tech-rich Nasdaq Composite Index fell 13.64 (0.30 percent) to 4,579.79.
Shares of Alibaba bolted 38.1 percent higher to $93.89 on its first day of trade after its IPO raised $25 billion, the largest in history on any market.
Anticipation of the Alibaba trade helped push the market higher Friday morning, gains that were further propelled by Scotland's referendum vote on Thursday rejecting independence from Britain.
But all three indices retreated from their peaks as Alibaba began trading before 1600 GMT.
"The higher the opening indication for Alibaba went, it seems the more the indices faded from their opening strength," said Briefing.com.
"That could be owed to Alibaba drawing buying interest away from everything else."
Yahoo, which holds a 22.4 percent stake in Alibaba, fell 2.7 percent. Although the Alibaba IPO will likely result in a huge windfall for the US tech company, some investors are expected to cash out of Yahoo now that they can invest directly in Alibaba.
Oracle shares fell 4.2 percent after co-founder Larry Ellison stepped down as chief executive but said he would serve as chief technology officer and executive chairman of the board. The software company's fiscal first-quarter results fell short of analyst expectations in both earnings per share and revenues.
Concur Technologies, which makes corporate travel and expense management systems, jumped 17.6 percent as it reached a deal to be acquired by German business software giant SAP for $8.3 billion. Analysts said the deal would enhance SAP's efforts to expand its cloud computing business. US shares of SAP fell 4.4 percent.
Oilfield-equipment supplier Dresser-Rand shot up 9.4 percent on reports that German technology giant Siemens plans to bid on the firm in a deal worth more than $5.1 billion.
Bond prices rose. The yield on the 10-year US Treasury fell to 2.59 percent from 2.63 percent Thursday, while the 30-year dropped to 3.30 percent from 3.36 percent. Bond prices and yields move inversely.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today dow hits new record alibaba soars in debut Arab Today, arab today dow hits new record alibaba soars in debut

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today dow hits new record alibaba soars in debut Arab Today, arab today dow hits new record alibaba soars in debut

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Lufthansa chief eyes up to 78

GMT 11:29 2017 Thursday ,21 September

Lufthansa chief eyes up to 78
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Rouhani at UN defends Iran nuclear deal

GMT 09:41 2017 Thursday ,21 September

Rouhani at UN defends Iran nuclear deal
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today New Zealand opposition looks

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Actress Ream Hhagag prepares for a new film

GMT 09:40 2017 Tuesday ,19 September

Actress Ream Hhagag prepares for a new film
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 12:14 2017 Monday ,18 September

Horia Farghaly happy for success of “Case G”

GMT 05:05 2017 Tuesday ,12 September

Pregnant woman's suicide roils China

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:26 2017 Wednesday ,20 September

Opioid overdose deaths take 2.5 months

GMT 16:04 2017 Tuesday ,19 September

Egypt tourism revival steady but slow

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:56 2017 Friday ,15 September

Apple's grand plan in Ireland held up by a forest

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday