Nasdaq record high

THE US stock market reached an all- time high yesterday as tech giants soared.

The Nasdaq Composite index, which covers all firms on the Nasdaq exchange, climbed 1.39pc as Facebook, Google parent Alphabet, Microsoft and Amazon all broke records. Alphabet made the biggest gain of those, rising 2.5pc to $1201 a share.

The gains came as Jay Powell, chairman of the US Federal Reserve, predicted a ‘significant’ boost for the economy.

The rebound was welcomed after a sell-off on Wednesday, prompted by a fiery speech from President Trump that sparked trade fears.