Dow breaches 21,000 mark for the first time

NEW YORK (AFP) – US stocks powered to fresh records Wednesday, with the Dow topping 21,000 for the first time, after President Donald Trump struck a more conciliatory note in a major address Tuesday night.

All three major US equity indices smashed past highs, with the Dow Jones Industrial Average surging 1.5 percent to end at 21,115.55. the Dow – which until Tuesday had racked up 12 successive record closes – powered past 21,000 points for the first time, while London and Frankfurt also clocked up all-time high finishes.

The broad-based S&P 500 gained 1.4 percent to 2,395.96, and the tech-rich Nasdaq composite Index jumped 1.3 percent to end at 5,904.03.

Trump's address to Congress reiterated campaign themes on his aim to crack down on illegal immigration and adopt a tough negotiating style with trade partners. But he avoided much of the harsh language he has often employed, appearing more ''presidential'' in the words of some pundits.

Investors took heart from the remarks that Trump and Republicans in Congress would succeed in enacting major progrowth policies, including a signficant tax cut that has been the source of much of the market's upward movement since election day.

In reaction, Asian markets surged Thursday, picking up the baton from record performances in New York and Europe where traders cheered upbeat US economic data and Donald Trump's conciliatory speech to Congress.

Tokyo stocks ended higher Thursday, extending a global rally driven by renewed hopes for US President Donald Trump's economic growth plans.

The benchmark Nikkei 225 index climbed 0.88 percent, or 171.26 points, to close at 19,564.80 while the Topix index of all first-section issues tacked on 0.75 percent, or 11.60 points, to end the session at 1,564.69.