USA stocks surge; Dow marks first time above 21000 points

Stopwatch being held in front of progressively higher stacks of coins representing the importance of long-term investing

Markets in Asia finished mostly higher on Thursday, after a bumper session on Wall Street in which the Dow Jones Industrial Average closed above 21,000 for the first time as expectations grew for an interest rate hike from the Federal Reserve in March.

In his first address to a joint session of Congress late Tuesday, Trump said he wanted to boost the United States economy with a "massive" tax relief, make a $1 trillion effort on infrastructure, and overhaul Obamacare.

Trump's speech lacked "fresh content for the market to trade off, with big tax cuts, deregulation and an infrastructure plan being mentioned but not supported by any details", McGuire noted.

Donald Trump Wants To Kill Protections For Small Streams
The executive order is one piece of a complicated mosaic that the president is using to dismantle the environmental agenda. But Lehman said we shouldn't get too ahead of ourselves about Trump's executive directive.

Wall Street grabbed on to Trump's more conciliatory and upbeat message, such as his call for a "renewal of the American spirit", and his promise that "dying industries will come roaring back".

- The Dow jumped 303.31 points, or 1.5 percent, to 21,115.55. I have no business relationship with any company whose stock is mentioned in this article. The Nasdaq composite fell 16.7 points, about 0.3 percent, to 5,887.2. The fear-gauge CBOE Volatility Index (VIX) advanced 5.4% to settle at 12.09.

Declining issues outnumbered advancers on the NYSE by 1,997 to 602.

Spotify trialling Hi-Fi music tier, report claims
The move into Hi-Fi could lure loyalists to Jay-Z's Tidal streaming service back into the Spotify fold. While users have been excited by the new offering, it doesn't appear to be functional yet.

As well as significantly raising infrastructure spending, Mr Trump has previously pledged to cut taxes for USA businesses.

Additionally, Trump will seek a $54 billion hike in spending on tanks, ships and weapons systems and will trim other priorities.

A report from the Commerce Department showed USA consumer spending rose less than expected in January, while inflation pushed higher. Mr. Trump offered little new news with regards to his coming tax cut in his speech, with the exception of the fact that part will benefit corporations and businesses and the other part will benefit the middle class. Positive sentiments over new healthcare and tax reforms led both the Health Care Select Sector SPDR (XLV) and Financial Select Sector SPDR (XLF) to increase 0.5%. Energy companies fell as crude oil prices edged lower. Russian Federation has already reduced its crude production by more than 117,000 bpd in January. Brent crude, which is used to price global oils, added 13 cents to $56.64 a barrel in London. But its decline was slight, falling just 0.1%, buoyed by the president's proposal to increase defense spending by $20 billion.

New iPhone 8 rumors point towards USB-C port
Meanwhile, some of Apple's competitors, including Samsung (ssnlf), have offered curved screens in their high-end handsets. For one, USB-C is capable of transmitting stuff faster than nearly any other standard around - and that includes USB 3.

In economic news, durable orders increased by 1.8%, in line with the consensus estimate. However, even if the Dow's historic run comes to an end, the index is on pace for a healthy monthly gain of 4.9%.


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