US stocks keep setting records

WALL Street stocks hit fresh highs as American manufacturers enjoyed their best year since 2004.

A survey of US factory activity by the Institute for Supply Management showed the strongest growth for 13 years, powering even greater optimism about the economy after massive tax cuts last month.

The S&P 500 pushed through the 2700 mark for the first time and was up 0.6pc, or 17.25 points, at 2713.06.

The Dow Jones yesterday climbed 0.4pc, or 98.67 points, to 24,922.68 while the Nasdaq Composite rose 0.8pc, or 58.63 points, to 7065.53, both at record closes.

That came as oil prices staged a recovery thanks to tensions in Iran, which could hit supplies. Brent crude hit its highest level since-mid 2015, at more than $67.