The US stock market vaulted to a new record high on Thursday as investors brushed aside fears over the escalating international trade war and instead focused on a booming American economy.
The S&P 500 index climbed 0.8 per cent by midday in New York, led by the technology stocks that have powered much of this year’s equity market rally as well as economy-sensitive sectors such as materials and banks.
The Dow Jones Industrial Average also rose 1 per cent to hit a new record high, while the tech-heavy Nasdaq Composite increased 1 per cent to trade close to its late August peak.
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