US indices resume bullish run, hit fresh record highs

Following a brief pause in the previous session, major US equity indices resumed with their record-setting run and opened at fresh all-time highs on Tuesday. 

The upbeat sentiment, supported by robust economic data and enthusiasm over earnings boost from the Trump administration’s tax cuts, kept the 2017 global stock rally running into the start of 2018. 

Investors now look forward to the quarterly earnings season to assess the impact of recent tax cuts and profit forecasts for the rest of the year, which would eventually help determine possibilities for continuation of the bullish momentum. 

A strong rally in oil markets, with WTI crude oil touching its highest level since May 2015, remained supportive of the risk-on environment through the opening hour of trade. 

There is very little for markets in terms of any macroeconomic releases and hence, comments by Minneapolis Fed President Neel Kashkari would now be looked upon for some impetus. 

At the time of writing this report, the Dow Jones Industrial Average was up around 70-points to 25,355, while the broader S&P 500 Index climbed over 5-points to 2,753. Meanwhile, tech-heavy Nasdaq Composite Index also added around 5-points to 7,163.