The Dow Jones industrial average smashed the 24,000 mark and then some as an abundance of news from Washington, world economies and the US national economy sent the index to a 286 finish. Toronto closed up 99 points with Enbridge leading the way. The Dow was up 359 points at midday Thursday and the Standard & Poor’s 500-stock index was having its best day since March. Markets responded positively to reports that Republicans were making progress on President Trump’s legislation to reduce corporate taxes. News reports that Sen. John McCain (R-Ariz.) was backing the plan gave supporters hope that the GOP may get enough votes for passage. Carl Icahn issued a warning about the stock market on Thursday. “I really think even though earnings are going to be very good … I just think this thing has gotten into a euphoric state,” he said. But the investor did acknowledge there is a lot of underlying strength to the market. “It’s run away and there might be a big correction but I can’t say it’s insane.”
GM SEES ELECTRIC CARS AT RETAIL BY 2019
General Motors said on Thursday it expects the commercial launch of self-driving vehicles in dense urban environments in 2019. The No.1 US automaker views electric and autonomous vehicles as the keystones of future transport. It said it believes government regulations will support development of self driving cars in the coming few years.
