Dow Jones and S&P top record highs

Posted August 09, 2017

Tokyo stocks opened slightly higher on Tuesday, as investor sentiment was bolstered by the Dow Jones Industrial Average closing at a fresh record high overnight for the ninth successive day.

Tuesday's rise puts the Dow on track to post its 11th straight session of gains - the blue-chip index's longest streak for consecutive gains since February - driven by a strong quarterly earnings season.

United States stock indexes opened lower on Tuesday as investors paused after a recent record-breaking rally that helped the Dow notch up nine straight sessions of record close.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, inched 0.90 point, or 0.05 percent higher, to 1,640.17.

As of 9:15 a.m. local time, the 225-issue Nikkei Stock Average edged up 3.32 points, or 0.02 percent, from Monday to 20,059.21. "There's no reason to be a seller yet and there's no reason to be a buyer at these levels as earnings season winds down and you don't have much in the way of economic news this week", said Robert Pavlik, chief market strategist at Boston Private Wealth in NY.

Dow futures were dow 0.11%, S&P 500 futures fell 0.14%, and Nasdaq futures slipped 0.15%.

US Marines missing after aircraft 'mishap' off Australian coast
Australia's Minister of Defense Marise Payne said no Australian Defense Force personnel were onboard the aircraft at the time. Three people are reported to be missing, feared dead, while up to 20 people have been rescued, according to the Courier-Mail.

The S&P 500 has risen about 11 percent in 2017 despite investors losing confidence in President Donald Trump's ability to legislate his pro-growth agenda of tax cuts and infrastructure spending this year.

Wal-Mart shares were up nearly 1 percent.

Medical device company NxStage Medical jumped 28.2 percent after it agreed to be bought by Fresenius Medical Care.

"We have strong earnings that is helping the market", said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group.

Apple rose 1.60 percent to an all-time high and provided the biggest boost to all three major indexes.

SeaWorld Entertainment plunged as much as 18.44 percent to a record low after the theme park company's quarterly revenue missed expectations.

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