US stocks continue scaling higher, Dow hits fresh record highs

Haresh Menghani FXStreet

• Positive economic data supports bullish momentum.
• Tax-cut bill optimism provides an additional boost.

Major US equity indices opened with modest gains on Thursday, with the Dow Jones Industrial Average (DJIA) gaining positive traction for the sixth straight session and carving fresh intraday records highs immediately after the opening bell.

Positive economic data, with the US monthly retail sales climbing 0.8% in November remained supportive of the prevalent bullish market sentiment. Investors also digested the latest information on the tax-cut bill, wherein the House and Senate are said to have reached a deal on the final legislation and cleared the way for a final vote next week.

During the opening hour of trade, DJIA gained over 50-points to 24,635, while the broader S&P 500 Index rose nearly 3-points to 2,666. Meanwhile, tech-heavy Nasdaq Composite Index climbed around 16-points and inched back closer to 6,900 mark.

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

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