Wall Street hits record high on trade optimism, FAANG rally

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© Reuters. Traders work on the floor at the NYSE in New York© Reuters. Traders work on the floor at the NYSE in New York

(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 (O:), Facebook Inc (O:), Apple Inc (O:), Amazon.com Inc (O:) and Netflix Inc (O:) – after bullish brokerage comments.

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

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