Markets mixed but Dow at record high as earnings come through

Markets were mixed on Thursday.

In the US, the Dow Jones Industrial Average rose 0.2 percent to a fresh record high but the S&P 500 dipped less than 0.1 percent.

Elsewhere, the STOXX Europe 600 rose 0.3 percent and the Nikkei 225 surged 1.8 percent.

Despite the recent record-breaking run, Mark Foster, chief investment officer at Kirr Marbach & Co., an investment advisory firm, thinks that the US market is fairly valued.

“We need to see earnings come through, but we are starting to see that, and on top of that we have a new administration that is offering tax and regulatory relief, which is making people feel better about the market,” he said.

Of the 120 S&P 500 companies that have released quarterly results so far, 78 percent are beating earnings estimates, according to data from Fundstrat.