Dow Jones tops 25000 as rally hits new high
The Dow Jones industrial average broke past 25,000 for the first time since hitting 24,000 five weeks earlier and rose to 25,078 by 3:30 p.m. Eastern. Positive global growth, tax reform optimism, and strong gains in Microsoft JPMorgan Chase and Wells Fargo fueled the ascent. Private sector payroll gains and higher rates supported the market lift as analysts forecast further upside despite volatility.
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Macy’s and Penney report holiday sales growth
Macy’s and J.C. Penney posted higher holiday sales as online focus and exclusive offerings helped lift results. Sears plans to close over 100 stores amid ongoing retail challenges. Macy’s outlines online expansion and store closures to save about 300 million dollars while cutting about 5,000 jobs.
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Meow Wolf Expands to Denver With Immersive Exhibit
Santa Fe based Meow Wolf declares plans for a new immersive walk through exhibit and music venue in downtown Denver under a 20 year lease with Revesco Properties. The project to span five stories aims for completion by early 2020 with a $30 million plus investment and an audience of all ages. The expansion follows Santa Fe based growth and a staff of about 200 artists and technicians.
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Vince Kadlubek
Buffett optimistic on U.S. economy and future gains
Warren Buffett writes in Time magazine that even with steady growth around 2 percent a year the next generation will fare better as the economy and American businesses continue to innovate. He notes the need to help workers displaced by technology and change.
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