Dow spikes 332 points, closes above 26000

Energy stocks contributed to the modest decline following a slide in crude oil prices.

Technology and health care companies accounted for much of the gains.

The market's dip from its latest highs represents "just a little setback", said Craig Callahan, chief investment officer at ICON Advisers. The S&P 500 index climbed 0.9 percent to 2,802.56 and the Nasdaq added 1 percent to 7,298.28.

A slew of positive corporate earnings reports helped the Dow Jones industrial average close above 26,000 for the first time, having risen The Nasdaq composite and S&P 500 also finished in positive territory.

The Standard & Poor's 500 index rose 13 points, or 0.5 percent, to 2,790.

Losers outnumbered winners by nearly three to one.

The S&P 500 and Nasdaq Composite also hit all-time highs.

Investors also looked at the newly-released Federal Reserve survey about fundamentals for the USA economy. The drop was a reversal from robust gains for October and November.

Kosovo Serb Politician Oliver Ivanovic Assassinated
Some 40,000-50,000 ethnic Serbs live in northern Kosovo, rejecting integration with the mainly ethnic Albanian state. But after a retrial was ordered he was released previous year and allowed to defend himself while free.

"This is a boost for productivity", and gave market players greater confidence, she said. "It's been hockey-stick growth up since the tax bill passed".

A shutdown could have a negative impact on consumer spending and financial conditions, though it's unlikely that it would cause lasting or broad damage to the economy, Credit Suisse economists concluded in a note published Thursday.

After nine-day winning streaks for the S&P 500 end, the market usually loses ground over the following month.

IBM gained 2.9 per cent after analysts upgraded their price target for the company's stock, and chipmaker Intel rose a similar amount, while aviation giant Boeing jumped 4.7 per cent after announcing a joint venture to make aircraft seats.

"You're in a little bit of a tough spot with bonds", said Kinahan.

The stock market is off to a stellar start in 2018. Boeing had its worst day since September 2016.

Boeing jumped 3.5 percent after the company announced a joint venture with auto seating leader Adient to make aircraft seats. Bank of America was down 0.2% percent after a $2.9 billion one-time tax charge almost halved its reported profit.

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