KXIP vs KKR Live Score

The broader Standard & Poor's 500 and the tech-heavy Nasdaq have also been trading at record levels. "Dow 5,000? There's a Case for It", a Wall Street Journal headline declared.

Hope began to waiver when, on January 12, the Dow and S&P 500 saw their worst one-day declines in three months. The reason it's getting so much attention is largely because it's easier to say "Dow 20,000" than "Dow 19912.71", where the index closed Thursday.

"I believe there is a growing belief that a more pro-business White House could stimulate more economic activity", said Willis, whose Gainesville firm manages about $2 billion for pensions, endowments and wealthy families and individuals. The Nasdaq Composite has gained 0.8% to 5,647.65.

Banks and other financial companies posted the biggest gains on Wednesday.

On Tuesday, President Trump signed executive orders that will make it easier for TransCanada to build the Keystone XL pipeline and for Energy Transfer Partners to build the final uncompleted portion of the Dakota Access pipeline.

"Trump's been on the job for five days and he's a man of action", Brian Battle, the director of trading at Performance Trust Capital Partners in Chicago, told Reuters. "With bond yields increasing, we're seeing gradual moves from bonds to risk assets".

More news: Ben Roethlisberger: Patriots Game Was 'Too Big' for Younger Steelers

Biogen rose 2.07% despite reporting that quarterly revenue fell short of expectations due to costs related to its multiple sclerosis drug.

Oil prices jumped 2 per cent, boosted by the ongoing rally in the USA stock market, although gains in crude futures were capped by plentiful supplies and bulging inventories despite efforts by producers to cut output.

The dollar was lower against most Group of 10 currencies. In this environment, the outlook for the Federal Reserve is murky.

As the chart above illustrates, there have been eight major structural markets-long-term primary trends-since 1896 and each has lasted an average of 14 years. "Since so little is now known about the detail of Trump's policy we would expect the (Fed) to be reluctant to act at least until the outlook becomes clearer", they added.

The dollar gained almost 1 percent against the yen to 114.39 yen, while the euro fell 0.5 percent versus the greenback to $1.0685. The euro was up at $1.0760, shrugging off a surprised fall in German business morale this month.