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7 Feb 2017
US stocks rise to fresh record highs
Major US equity indices opened in green, with both the Dow Jones Industrial Average (DJIA) and Nasdaq Composite indices hitting fresh intraday record high levels.
At the time of reporting, DJIA was up over 80-points to 20,140, while tech-heavy Nasdaq Composite Index added around 15-points to 5,680. Meanwhile, the broader S&P 500 Index gained 5-points and inched closer to 2,300 record high level.
Lately fading optimism over strong US economic growth, in absence of any details over Trump's proposed fiscal policies, had slowed the 'Trump rally' in the US stock markets. Moreover, investors paused to assess quarterly corporate earnings report to see if stock valuation justified the post-election rally to record high levels.
On economic data front, a report from the US Commerce Department showed trade deficit fell more than expected in December as exports rose to their highest level in more than 1-1/2 years, outpacing an increase in imports.