Wall Street hits record high on trade optimism, FAANG rally - Reuters

FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., January 8, 2020. REUTERS/Brendan McDermid

(Reuters) - U.S. stock indexes hit record highs at the open on Thursday after the United States and Iran pulled back from new military action, while firming optimism about a U.S.-China trade deal added to the upbeat mood.

The biggest boost to the main indexes were the FAANG group of stocks - Alphabet Inc (GOOGL.O), Facebook Inc (FB.O), Apple Inc (AAPL.O), Amazon.com Inc (AMZN.O) and Netflix Inc (NFLX.O) - after bullish brokerage comments.

The Dow Jones Industrial Average .DJI rose 106.88 points, or 0.37%, at the open to 28,851.97. The S&P 500 .SPX opened higher by 12.98 points, or 0.40%, at 3,266.03. The Nasdaq Composite .IXIC gained 73.03 points, or 0.80%, to 9,202.27 at the opening bell.

Reporting by Sruthi Shankar in Bengaluru; Editing by Amy Caren Daniel

Our Standards:The Thomson Reuters Trust Principles.

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