Dow, S&P 500 Set Record-high Closes Ahead of Thanksgiving

美國道瓊指數、標準普爾500指數：感恩節前創新高

The Dow Jones industrial average and the Standard & Poor's 500 eked out record-high closes Wednesday ahead of the Thanksgiving holiday, helped by gains in industrial stocks, though losses in technology shares limited the advance and weighed on the Nasdaq.

      美國道瓊工業平均指數(Dow Jones Industrial Average, DJIA)和標準普爾500指數(Standard & Poor's 500, S&P 500)受到工業股上漲的激勵，感恩節假期前皆補上些微點數(eke out)，締造了新高收盤紀錄。但科技股下跌，限制了進一步的上漲，納斯達克指數(Nasdaq)亦受此下跌的壓力影響(weigh on)，並無表現。

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Dow, S&P 500 Set Record-high Closes Ahead of Thanksgiving 
VOA News
November 23, 2016 5:27 PM Reuters (source) 

Dow, S&P 500 Set Record-high Closes Ahead of Thanksgiving

美國道瓊指數、標準普爾500指數：感恩節前創新高

November 23, 2016 5:27 PM
Reuters

NEW YORK —

The Dow Jones industrial average and the Standard & Poor's 500 eked out record-high closes Wednesday ahead of the Thanksgiving holiday, helped by gains in industrial stocks, though losses in technology shares limited the advance and weighed on the Nasdaq.

Caterpillar's share price rose 2.7 percent and hit its highest level in about two years, while Deere jumped 11 percent to a record-high close after the farm equipment maker reported a decline in profit that was much smaller than expected.

Industrial stocks also were given a boost by a report that showed a strong jump in orders for durable goods in October because of demand for machinery and other equipment.

The industrials index has jumped since the November 8 U.S. election on bets that President-elect Donald Trump's plans to boost infrastructure spending would benefit the industry.

Stocks had little reaction to minutes from the latest Federal Reserve meeting, which showed policymakers appeared confident on the eve of the U.S. election that the economy was strengthening enough to warrant interest rate increases soon.

Expectations among investors remained high that the Fed will raise rates in December.

"It's fully factored in," said John Traynor, executive vice president and chief information officer of People's United Wealth Management in Bridgeport, Connecticut. "What you're seeing right now is a lot of portfolio repositioning. Those are people who had a portfolio built for a slower-growth environment and are now moving to position themselves for a different administration and a different environment.".

Pre-holiday activity

Volume was lighter than usual, with many market participants heading out early ahead of the U.S. Thanksgiving Day holiday on Thursday. The U.S. stock market will be closed Thursday and will close early on Friday.

The Dow rose 59.31 points, or 0.31 percent, to end at 19,083.18, while the S&P 500 gained 1.78 points, or 0.08 percent, to 2,204.72. The Nasdaq Composite dropped 5.67 points, or 0.11 percent, to 5,380.68.

Traynor and others said a pullback could be in order soon, given the sharp recent run higher. "We're advising clients the market is ahead of itself so be prepared for a pullback," he said.

Eli Lilly fell 10.5 percent to a share after the company said it would stop developing its Alzheimer's drug following a trial failure. Biogen, which is developing a similar drug, fell 3.8 percent.

Advancing issues outnumbered declining ones on the NYSE by a 1.02-to-1 ratio; on Nasdaq, a 1.43-to-1 ratio favored advancers.

The S&P 500 posted 66 new 52-week highs and three new lows; the Nasdaq Composite recorded 321 new highs and 21 new lows. About 6.5 billion shares changed hands on U.S. exchanges, compared with the 8.1 billion daily average for the past 20 trading days, according to Thomson Reuters data.

美國道瓊工業平均指數(Dow Jones Industrial Average, DJIA)和標準普爾500指數(Standard & Poor's 500, S&P 500)受到工業股上漲的激勵，感恩節假期前皆補上些微點數(eke out)，締造了新高收盤紀錄。但科技股下跌，限制了進一步的上漲，納斯達克指數(Nasdaq)亦受此下跌的壓力影響(weigh on)，並無表現。

（編按：道瓊工業平均指數(Dow Jones Industrial Average, DJIA)、標準普爾500指數(Standard & Poor's 500, S&P 500)和納斯達克指數(Nasdaq)皆為「股價指數」，為反映市場上組成股票價值的資料。而納斯達克指數又以「納斯達克綜合指數」(Nasdaq Composite)為最主要的指標。）

開拓重工（Caterpillar，即美國 Caterpillar Inc.「開拓重工有限公司」）股價(share price)上漲2.7%，為近兩年之最高水準。農業器具(farm equipment)製造業者的營收報告中，營收減少的情形低於之前的預期，強鹿（Deere，即 John Deere，為美國 Deere & Company「迪爾公司」之品牌）股價因此上揚11%，創下歷史最高收盤價。

（編按：開拓重工有限公司(Caterpillar Inc.)為美國一家重型工業設備製造公司。「強鹿」(John Deere)則是美國迪爾公司(Deere & Company)用於生產農業、建築、森林機械設備和柴油引擎的品牌。）

報告顯示，因市場對器具與其他設備的需求增加，十月份耐用品(durable goods)的訂單(order)需求強勁，工業股受此激勵(boost)。

由於總統當選人(president-elect)唐納‧川普(Donald Trump)計畫增加基礎建設開銷(infrastructure spending)，相關產業可能因此受惠，在各方資金押注(on bets that . . .)之下，工業類股指數自11月8日美國總統選舉後即開始上揚。

最近一次聯準會(Federal Reserve)的會議紀錄(minutes)在股票市場上則無造成太大反應。會議紀錄顯示，政策委員們在總統大選前夕對美國經濟具有信心，認為美國經濟表現強勁，已有充分理由(warrant)做好近期升息的準備。

（編按：聯準會(Federal Reserve)全名為「聯邦儲備系統」(Federal Reserve System)，為美國的中央銀行體系。）

投資者仍普遍預期，聯準會將於12月升息。

「市場已經充分反應這個因素(be factored in)了。」康乃狄克州(Connecticut)布里奇波特市(Bridgeport)的人民聯合財富管理公司(People's United Wealth Management)執行副總與資訊長約翰‧特雷諾(John Traynor)如此表示。「我們現在看到的漲勢是市場上投資組合(portfolio)的部位重整。這些多是當初為了慢速成長的大環境所發展的投資組合，但為了因應不同的執政者與投資環境，很多投資者現在正重新調整投資部位。」

（編譯： “position”一字在金融投資市場多直譯為「部位」，意思是指「某個投資項目的投資金額大小或比重」，即「持股數或持股比重」。本新聞中「調整部位(reposition)」指的是在「投資組合」中調高或調低每個投資項目的持有比例。）

感恩節前的股市交易

因週四（編按：新聞時間為11月24日）的感恩節假期，許多參與市場的投資人提早出門(head out)返鄉，市場交易量(volume)較平常少。美國股市將於週四休市一天，並且週五提早收盤。

感恩節前，道瓊指數上升59.31點（漲幅0.31%），收在19,083.18點，標準普爾500指數上漲1.78點（漲幅0.08%），收在2,204.72點。納斯達克綜合指數(Nasdaq Composite)下跌5.67點（跌幅0.11%），收在5380.68點。

特雷諾與其他分析師表示，有鑑於股市近日急遽的拉高漲勢，近期的股價拉回(pullback)已在醞釀當中(in order)。他表示：「市場有點漲過頭，我們建議客戶要做好股價拉回的準備。」

禮來公司（Eli Lilly，即美國製藥公司 Eli Lilly and Company）因阿茲海默症(Alzheimer)藥物實驗失敗(trial failure)，宣布將停止該藥物研發，股價應聲下跌10.5%，來到每股68元（美金）。同樣在研發類似藥物的生物基因艾迪克公司（Biogen，即美國生物科技公司 Biogen Idec）也有3.8%的跌幅。

紐約證券交易所(New York Stock Exchange, NYSE)的上漲家數(advancing issues)多於下跌家數，比例(ratio)為1.02比1。納斯達克證券交易所的上漲家數亦高於下跌家數，比例為1.43比1。

標準普爾500指數在52週股價方面，有66家公司股價創新高，3家創新低；納斯達克綜合指數有321家創新高紀綠，創新低紀錄的則有21家。根據湯森路透公司(Thomson Reuters)的資料，相較於市場過去20個交易日(trading day)的每日平均交易量81億股，感恩節的前一天僅有65億股交易換手(change hands)。