You are here

US: Stocks open higher, drift to new records

WALL Street stocks added to records early Friday, drifting higher following benign economic and trade news that has created positive momentum in recent weeks.

All three major indices closed at records on Thursday following a quiet session that saw lower volumes that are the norm in the sleepy period between Christmas and New Year's Day.

"The stock market is getting carried away to new record heights and in the process, it is inviting accusations that it is simply getting carried away," analyst Patrick O'Hare said in a note on Briefing.com.

"That's usually about the time it gets tripped up, but for now, the good times are set to keep rolling at the open," he added.

About 10 minutes into trading, the Dow Jones Industrial Average had risen to 28,684.27, up 0.3 per cent, the broad-based S&P 500 added 0.2 per cent at 3,246.42, while the record-setting, tech-rich Nasdaq Composite Index also advanced 0.2 per cent to 9,041.85 after crossing the 9,000-point threshold for the first time on Thursday.