Dow Ascends to Record High and Nears 22,000<br />The S&P 500 is trading at about 18 times earnings estimates for the next 12 months,<br />above its 10-year average of 14 times, according to Thomson Reuters Datastream.<br />With two thirds of S&P 500 companies having reported their second-quarter earnings, 72<br />percent have beaten Wall Street’s expectations, according to Thomson Reuters I/B/E/S.<br />(Reuters) - The Dow Jones Industrial Average racked up a fifth straight record high on Tuesday<br />and neared the 22,000 mark, powered by Goldman Sachs, JPMorgan Chase and other banks.<br />The S&P 500 information technology index is up 22 percent year to date, leading other sectors.<br />JPMorgan Chase rose 1.34 percent and Goldman Sachs added 0.74 percent<br />The Dow has risen 11 percent in 2017, even as Wall Street loses confidence<br />that President Donald Trump and a Republican-controlled Congress this year will cut taxes and increase spending on infrastructure.
