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US stocks end at records on international trade deal progress

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NEW YORK: Wall Street stocks surged to fresh records on Thursday (Jan 16) after the US Senate approved a new North American trade pact, adding to ...

NEW YORK: Wall Street stocks surged to fresh records on Thursday after the US Senate approved a new North American trade pact, adding to the momentum from the US-China trade deal.

One of the notable winners was Google parent Alphabet, which rose 0.9 per cent to top US$1 trillion in market capitalization, joining Apple and Microsoft in the elite group and ahead of Amazon, which is currently valued at around US$930 billion after earlier exceeding US$1 trillion., a rewrite of the NAFTA agreement that now requires only President Donald Trump's signature and approval from Canada before it enters into force.

Ogg said lofty stock valuations were"a little worrisome" but added that"bull markets don't usually end because of valuations unless it gets very extreme."

 

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