After a quiet start, major US stock indexes again set all-time highs Thursday afternoon as the market built on a surge the previous day.
The Dow is pushing toward new heights and outperforming the S&P 500, with the SPDR Dow Jones Industrial Average ETF (NYSEArca: DIA), which tracks the Dow Jones Industrial Average, up 7.9% over the past month, compared to the 6.0% gain in the S&P 500.
The Standard & Poor's 500 index picked up 12.76 points, or 0.6 percent, to 2,204.71.
Trump's victory has been seen as a boon, particularly for financial and industrial stocks that have surged since the election.
But biotechnology and pharmaceutical stocks tumbled on Wednesday after Trump promised in a Time magazine article that "I'm going to bring down drug prices". The Nasdaq composite increased 19 points, or 0.4 percent, to 5,271.
The Dow Jones Industrial Average was poised for its fifth straight day of gains Friday as futures for the benchmark rose, though some analysts are warning that a correction may lie ahead.
Small-company stocks continued to outpace the rest of the market by a wide margin. The hiring rate was steady at 3.5 per cent while the "quits rate" - the number of quits as a percentage of paid employees - was also unchanged at 2.2%.
Western Digital Corp. shares jumped to close 8.3% higher after the computer hardware maker raised its outlook late Tuesday. Annual growth was 1.8 percent.
The January crude oil contract climbed $1.07 to US$50.84 per barrel, as the Canadian dollar added 0.26 of a USA cent at 75.81 cents US. Home improvement retailer Lowe's rose $3.94, or 5.4 per cent, to $76.40 and truck maker Paccar jumped $3.20, or 5 per cent, to $67.63.
On the commodity markets, the January crude oil contract fell $1.16 to US$49.77 per barrel, while the January contract for natural gas pulled back three cents at US$3.60 per mmBTU.
ANALYST VIEWPOINT: "Asian indices look set to see moderate gains on the back of the euphoria that stems from U.S. and European markets".
The Dow fell 17 points, or 0.1 percent, to 19,198. The yield on the 10-year Treasury note fell to 2.34 per cent from 2.39 per cent. The Nasdaq Composite ended the session up 24.11 points, or 0.5%, at 5,333.00. European stock indexes climbed. The stimulus is created to boost growth and inflation.
In other energy trading, wholesale gasoline lost 3 cents to $1.51 per gallon.
Britain's FTSE 100 gained 0.2 per cent to 6,914.73 and France's CAC 40 added 0.3 per cent to 4,709.35. In foreign exchange trading, the dollar rose to 114.01 yen from 113.75 yen.
Gold rose $7.40 to $1,177.50 an ounce. Apple and Microsoft both gained 1.6 per cent and Google parent Alphabet 1.7 per cent.
Coca-Cola jumped 2.5 per cent as it announced that Muhtar Kent will step down as chief executive in May to be replaced by president and chief operating officer James Quincey.
ASIAN MARKETS: Japan's benchmark Nikkei 225 rose 0.7 percent and the South Korean Kospi inched up 0.1 percent.