Business

Key US stock indexes hit record highs

NYSE trader Image copyright Getty Images

(Close): All three of the main share indexes on Wall Street ended the day at record highs on Thursday.

The Dow Jones gained 0.59% to reach 20,172.33, while the wider S&P 500 climbed 0.58% to 2,307.87.

Meanwhile, the tech-heavy Nasdaq finished at a record high for the third day in a row, climbing 0.58% to 5,715.18.

Twitter shares dived nearly 12.24% after its fourth quarter losses nearly doubled and revenues only inched up.

The social networking service reported a loss of $167m (£133m) in the final three months of 2016, as against $90m in the same period a year earlier.

The boost to shares more generally followed comments by President Donald Trump that he would reveal his tax cutting plan soon.

Following Mr Trump's election in November, US shares enjoyed a rally prompted by investors expectations that he would cut taxes and increase infrastructure spending in an effort to stimulate the economy.

That rally has slowed more recently, but investors seem to have been encouraged at the prospect of learning more details of the proposals.

"I think this is another 'Trump On' trade day, where we're finally seeing some of the proposed policies being put into place," said Chris Gaffney, president of world markets at EverBank.

Shares in Coca-Cola ended down by 1.83% - after it forecast a drop in full-year profits - making it the second biggest faller on the Dow.