Dow opens above 23000 on strong IBM results

Wall Street makes quiet opening

The reporting period heats up this week, and with the S&P 500 already up 14 percent so far this year, investors are hoping results and guidance will justify the relatively high valuation of stocks.

All three major indexes posted record highs on Wednesday, with the Dow rallied over 160 points to break the 23,000-threshold.

The S&P and the Nasdaq also notched opening records on gains across the board.

USA online streaming giant, Netflix, also posted better-than-expected earnings and revenue boosted by stronger-than-expected subscriber growth. "All the news is positive". S&P 500 companies are forecast to deliver 3.3 percent earnings growth in the third quarter, according to S&P Global Market Intelligence. Both the S&P 500 and the tech-heavy Nasdaq indices also hit fresh highs today. Biogen rose $8.799, or 2.6 percent, to $344.47, while Anthem rose $3.50, or 1.9 percent, to $187.26.

Hopes of USA tax reform have received a boost lately after the House passed a $4.1 trillion budget.

Chipotle Mexican Grill slipped 2.19 percent after Bank of America Merrill downgraded the company's stock to "underperform" and slashed its price target by $105 to $285.

Anthem gained about 5 percent after the health insurer said it signed an agreement with CVS Health to support the company's new pharmacy benefit management business.

Declining issues outnumbered advancing ones on the NYSE by a 1.02-to-1 ratio; on Nasdaq, a 1.10-to-1 ratio favored decliners.

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