Snapshot: Wall St hits record high on trade optimism, FAANG rally

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NEW YORK (Jan 9): 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, Facebook Inc, Apple Inc, Inc and Netflix Inc — 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.