US: Wall St hits record high on trade optimism, FAANG rally

Monitors display stock market information outside of Morgan Stanley global headquarters in New York.The Dow Jones Industrial Average rose 106.88 points, or 0.37 per cent, at the open to 28,851.97.[NEW YORK] US stock indexes hit record highs at the open on Thursday after the United States and Iran pulled back from new military action, while firming optimism about a US-China trade deal added to the upbeat mood.

The biggest boost to the main indices were the FAANG group of stocks - Facebook, Apple, Amazon, Netflix and Alphabet's Google - after bullish brokerage comments. The Dow Jones Industrial Average rose 106.88 points, or 0.37 per cent, at the open to 28,851.97. The S&P 500 opened higher by 12.98 points, or 0.40 per cent, at 3,266.03. The Nasdaq Composite gained 73.03 points, or 0.80 per cent, to 9,202.27 at the opening bell.

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