The daily business briefing: October 18, 2017

Dow briefly rises above 23,000 for first time, Amazon Studios chief Roy Price steps down after sexual harassment claim, and more

A trader sports a Dow 23,000 hat
(Image credit: Spencer Platt/Getty Images)

1. The Dow briefly breaks the 23,000 barrier

The Dow Jones Industrial Average pierced the 23,000 mark for the first time on Tuesday, before edging back and closing just below it. The Dow got a lift from strong earnings from UnitedHealth and Johnson & Johnson that sent their stocks surging. The blue-chip index has gained 2.6 percent this month and logged three previous 1,000-point milestones already in 2017. Analysts, however, say it might take a while for the Dow to close above 23,000 and stay there. "Right now, you're contending with earnings season and the fact that the market has run up leading up into the earnings season," said Robert Pavlik, chief market strategist at Boston Private Wealth in New York.

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.