* Dow Transport index closed at record high on Wednesday
* Jobless claims fell by 10,000 to 258,000 last week -
* Financial stocks boost indexes
* Indexes up: Dow 0.2 pct, S&P 0.1 pct, Nasdaq 0.16 pct
(Updates to open)
By Yashaswini Swamynathan
Dec 8 Wall Street's post-election rally showed
no signs of fatigue as the three major indexes hit all-time
highs on Thursday.
Donald Trump's election as U.S. president last month sparked
euphoria on Wall Street, with investors chasing stocks that are
likely to gain from his proposals to spend more on
infrastructure and simplify industry regulation.
"Investors are getting excited over the prospects of a new
administration, a fresh mindset and a man who knows how to do
business," said Andre Bakhos, managing director at Janlyn
Capital in Bernardsville, New Jersey.
"While there was also a technical aspect to the move
yesterday ... the mindset right now is that any pullback is seen
as bullish. It's an opportunity to buy into the market, not
The Dow industrials, the Dow Transport, the
S&P 500 and the Russell 2000 indexes closed at
record levels on Wednesday.
The European Central Bank unexpectedly reduced its asset
purchase plans to 60 billion euros ($64 billion) from the
current 80 billion euros on Thursday, but reserved the right to
increase buying once again.
Adding to the bullish tone was a report that showed the
number of Americans filing for unemployment benefits fell from a
five-month high last week, pointing to a robust labor market and
building on a recent spate of strong economic data.
At 9:42 a.m. ET the Dow Jones industrial average was
up 39.58 points, or 0.2 percent, at 19,589.2. It hit a record
high of 19,592.95 - its 10th since the Nov.8 election.
The S&P 500 was up 2.13 points, or 0.1 percent, at
2,243.48, slightly below its high of 2,243.56.
The Nasdaq Composite was up 8.60 points, or 0.16
percent, at 5,402.36, easing from a high of 5,403.88.
Eight of the 11 major S&P 500 sectors were lower, but the
losses were offset by a 0.85 percent rise in financials
and gains in materials and energy.
Bank of America, JPMorgan and Wells Fargo
rose between 0.9 percent and 1.6 percent, boosting the
Investors, however, are likely to tread cautiously ahead of
the Federal Reserve's meeting next week, where traders see a
more than 90 chance of an interest rate hike.
Lululemon soared 17.3 percent to $70.20 following
the yoga and leisure apparel retailer's reported of a
better-than-expected quarterly profit.
Costco rose 2.5 percent to $157.86 in thin trading
after the warehouse club retailer reported a quarterly profit
that beat analysts' expectations.
Declining issues outnumbered advancers on the NYSE by 1,317
to 1,289. On the Nasdaq, 1,141 issues rose and 1,126 fell.
The S&P 500 index showed 83 new 52-week highs and two new
lows, while the Nasdaq recorded 173 new highs and five new lows.
($1 = 0.9384 euros)
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by