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Dow 25,000 in sight; Computer chip crisis; Tesla troubles

1. Dow 25,000 in sight: The Dow Jones industrial av...

Posted: Jan 4, 2018 10:18 AM
Updated: Jan 4, 2018 10:18 AM

1. Dow 25,000 in sight: The Dow Jones industrial average is less than 80 points away from hitting 25,000 points. The milestone would have seemed a long way off to investors just a year ago, when the Dow was below 20,000.

The first two trading days of 2018 have each brought new stock market records in the U.S. Today could be another big day as U.S. stock futures move higher.

Stock markets in other parts of the world are also buoyant, with some European indexes climbing by about 1%.

Asian markets ended the day with gains. The Nikkei index in Japan stood out with a 3.3% jump as trading relaunched in Tokyo following an extended holiday.

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2. Computer chip crisis: Intel and AMD are in focus after researchers revealed that two major flaws in computer chips could leave a huge number of computers and smartphones vulnerable to security issues.

The flaws, called Meltdown and Spectre, exist in processors. Meltdown appears to be specific to Intel chips. The Spectre flaw was found in Intel, AMD and ARM processors.

Intel said that "many types of computing devices -- with many different vendors' processors and operating systems -- are susceptible to these exploits." Its shares dropped 3% on Wednesday

AMD said there is a "near zero risk of exploitation" for one of the security issues, due to architecture differences. Its shares are pushing up by 4% in premarket trading.

ARM said in a statement a small subset of its processors are susceptible to the flaws. ARM is owned by SoftBank.

3. Tesla trouble: There's negative news swirling around Tesla on Thursday morning and that could put pressure on shares when the markets open.

Tesla said on Wednesday it's still way behind on its Model 3 production goals, producing just 2,425 of the sedans over the last three months. Tesla said last year that it hoped to be making 5,000 Model 3s per week by the end of 2017. Still, the company promised it has "made major progress addressing Model 3 production bottlenecks."

4. Earnings and economics: Monsanto and Walgreens plan to release earnings before the open, while Franklin Covey and Sonic plan to release earnings after the close.

The U.S. Crude Inventories report is set to be released at 11 a.m. ET. Crude oil prices are currently surging to trade around $62 per barrel, a level not seen since late 2014.

Download CNN MoneyStream for up-to-the-minute market data and news

5. Coming this week:

Thursday -- Walgreens and Monsanto earnings
Friday --
U.S. December jobs report

California Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 786168

Reported Deaths: 15016
CountyConfirmedDeaths
Los Angeles2607976353
Riverside566811153
San Bernardino52471908
Orange520631128
San Diego44577760
Kern31379354
Fresno27668355
Sacramento21297375
Alameda20558374
Santa Clara20410296
San Joaquin19793414
Stanislaus16319335
Contra Costa15837199
Tulare15599256
Ventura12328143
Imperial11558314
San Francisco1074599
San Mateo9522143
Monterey946767
Santa Barbara8862110
Merced8750134
Kings728377
Sonoma7060114
Marin6557112
Solano608555
Madera429658
Placer346641
San Luis Obispo336927
Butte274835
Yolo274754
Santa Cruz22188
Sutter164210
Napa161413
San Benito130111
Yuba11187
El Dorado10684
Mendocino84918
Lassen7310
Shasta68714
Glenn5503
Colusa5096
Nevada5066
Tehama4984
Humboldt4826
Lake46510
Calaveras31114
Amador28616
Tuolumne2214
Inyo18714
Mono1652
Siskiyou1610
Del Norte1361
Mariposa752
Plumas490
Modoc240
Trinity150
Sierra60
Alpine20
Unassigned00
Chico
Few Clouds
61° wxIcon
Hi: 89° Lo: 60°
Feels Like: 61°
Oroville
Clear
63° wxIcon
Hi: 89° Lo: 60°
Feels Like: 63°
Paradise
Few Clouds
61° wxIcon
Hi: 83° Lo: 59°
Feels Like: 61°
Chester
Clear
36° wxIcon
Hi: 76° Lo: 46°
Feels Like: 36°
Red Bluff
Clear
61° wxIcon
Hi: 91° Lo: 59°
Feels Like: 61°
Willows
Few Clouds
61° wxIcon
Hi: 91° Lo: 56°
Feels Like: 61°
Heat and haze were on the menu today but a cool-down is in the works for next week.
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