United States stocks close higher as Dow sets 12th straight record close

The US Dow Jones stock index has closed at a record high for the 12th day running as Donald Trump promised a "big" infrastructure announcement. Mr Trump will address a joint session of Congress this evening with a speech that is typically used by a new president to clarify their economic agenda.

Analysts said Wall Street was buoyed by hopes the United States president would set out more on his spending and tax plans in a speech to Congress on Tuesday.

The Nasdaq jumped 16.59 (+0.28 percent) to close at 5,861.90, while the S&P 500 finished at 2,369.73, up 2.39 (+0.10 percent) from its open.

J.C. Penney announced it will close 130-140 of its stores over the next few months, causing shares to tumble 6 percent.

Among stocks, electric carmaker Tesla fell almost 4 percent to $246.42 after Goldman Sachs downgraded the company's stock to "sell" from "neutral" and lowered its price target.

Shutterstock dropped 13.4 percent to $44.73 after the stock image provider reported quarterly revenue that missed analysts' average estimate. On the Nasdaq, 1,623 issues rose and 1,047 fell.

Boeing and UnitedHealth were among the biggest drivers for the index yesterday, while the S&P 500 also closed at a record high, thanks to a boost from energy.

  • Zachary Reyes