US stocks extend bullish run-up, S&P/Dow hit fresh all-time highs
|Major US equity indices witnessed yet another positive opening, with both the Dow and S&P 500 hitting intraday highs.
Investors assessed fourth-quarter earnings report from big US lenders, with most of them beating profit estimates on the back of higher interest rates and loan growth.
Investors' sentiment got an additional boost from the latest German political development, wherein coalition party leaders reached a breakthrough in talks to form a new government and eased months of uncertainty in the Euro-zone's biggest economy.
Traders seemed to have largely ignored today's weaker than expected economic data, while continuous up-surge in energy stocks remained supportive of the bullish momentum in the markets.
Meanwhile, a sharp decline in shares of Facebook, down over 4% during early trade, was seen weighing on tech-heavy Nasdaq Composite Index but did little to cap gains for broader markets. Nevertheless, all the three major indices remain on track for yet another positive weekly close with gains of around 1%.
At the time of writing this report, the Dow Jones Industrial Average jumped nearly 170-points to 25,740, while the broader S&P 500 Index added over 8-points to 2,775. Meanwhile, Nasdaq lagged and ticked higher by around 5-points to 7,218.
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