The Dow Jones Industrial Average soared by 322 points on Wednesday, Jan. 17, finishing above 26,000 and setting a new record close. The S&P 500 and Nasdaq also finished at new record highs.

The Dow Jones Industrial Average rose 1.25% to finish at 26,115. Pacing the Dow's gains were tech giants Intel Corp. (INTC)  , up 2.9%, International Business Machines Corp. (IBM)  , which gained 4.6%, and airplane maker Boeing Co. (BA)  , which closed 4.7% higher.

The S&P 500 rose 0.94% and the Nasdaq jumped 1.03%.

Shares of Apple Inc. (AAPL)  gained 1.6% Wednesday after the iPhone maker said it would invest $350 billion in the U.S. economy over the next five years and expects to create 20,000 new jobs.

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The Dow broke through 26,000 for the first time on Tuesday, Jan. 16, but ended the day with a small loss.

Bank of America Corp. (BAC) , the second-biggest U.S. bank, said fourth-quarter profit tumbled 48% amid a slump in bond trading and as the new U.S. tax law triggered a slew of multibillion-dollar write-downs. 

Net income fell to $2.37 billion. Earnings per share were 20 cents a share, including a charge of 27 cents a share related to the tax act. The adjusted figure of 47 cents a share compares with analysts' estimates of 45 cents.

The stock pared earlier losses and was down 0.1%.

Goldman Sachs Group Inc. (GS) , the Wall Street bank mired in a slump amid sluggish bond markets, posted a fourth-quarter loss of $1.93 billion, capping a dismal year for CEO Lloyd Blankfein that has led some analysts to call for his ouster. 

The loss included a $4.4 billion expense for taxes on foreign earnings and other costs triggered by the new U.S. tax law passed in December. The bank posted a quarterly loss of $5.51. Excluding the tax charges, earnings per share were $5.68, exceeding analysts' estimates of $4.92.

In bond trading, historically one of the bank's biggest moneymakers, revenue tumbled 50% to $1 billion, the company said.

Goldman shares declined 1.9%.

The Financial Select Sector SPDR ETF (XLF)  rose 0.8% after falling earlier in the session.

Shares of Juno Therapeutics Inc. (JUNO)  jumped 51% on Wednesday following a report in The Wall Street Journal that said Celgene Corp. (CELG)  was in discussions to acquire the biotech company. 

The Health Care Select Sector SPDR ETF (XLV) gained 0.9%.

Ford Motor Co. (F)  fell 7% Wednesday after the automaker said it expects lower operating profit in 2018, reflecting higher commodity costs and adverse exchange rates which offset cost-cutting actions the company is taking. 

For 2018, Ford guided to adjusted earnings of $1.45 to $1.70 a share.

CSX Corp. (CSX)  shares declined 0.7% after the railroad company reported better-than-expected earnings for the fourth quarter but didn't meet revenue expectations.

In U.S. economic news, industrial production in December rose 0.9%, the fourth straight monthly increase, the Federal Reserve said.

In Europe, the Stoxx 600 index slipped 0.1% while Asian stocks ended the session mixed.

ASML NV (ASML) , a Dutch supplier of tools and equipment for the semiconductor industry, jumped 6.8% and hit a record high after stronger-than-expected fourth-quarter earnings revived prospects to a renewed "supercycle" in global chip demand.

Global oil prices rose modestly softer Wednesday. West Texas Intermediate crude oil, the U.S. benchmark, rose 0.4% to $64.01 a barrel.

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