* Trump says to make "phenomenal" tax announcement in few
* Financial sector set to snap three-day losing streak
* Airline stocks up after top executives meet Trump
* Indexes up: Dow 0.63 pct, S&P 0.55 pct, Nasdaq 0.57 pct
(Updates to early afternoon)
By Yashaswini Swamynathan
Feb 9 Wall Street's three main indexes hit
record intraday highs on Thursday after President Donald Trump
said he would make a "phenomenal" tax announcement over the next
two or three weeks.
A post-election rally has sent Wall Street's indexes to
record highs on bets that Trump would usher in an era of tax
cuts, simpler regulations and higher infrastructure spending.
"Lowering the overall tax burden on American business is big
league," Trump said in a meeting with airline executives.
Chris Gaffney, president of world markets at EverBank, said
this was another 'Trump On' trade day.
"We're finally seeing some of the proposed policies being
put into place."
At 12:39 p.m. ET (1739 GMT) the Dow Jones industrial average
was up 125.94 points, or 0.63 percent, at 20,180.28, the
S&P 500 was up 12.63 points, or 0.55 percent, at 2,307.3
and the Nasdaq Composite was up 32.24 points, or 0.57
percent, at 5,714.69.
Eight of the 11 major S&P sectors were higher. The S&P 500
financial index rose 1.3 percent and was on track to
snap a three-day losing streak.
The utilities sector, which is considered a
defensive bet, was down 0.88 percent.
Among stocks, Viacom rose 2.5 percent as its
quarterly profit beat analysts' expectations.
Coca-Cola fell 2.3 percent to $41.13 after the
beverage maker forecast a drop in full-year adjusted profit. The
stock was the biggest drag on the Dow and the S&P.
Twitter sank 10.7 percent after the microblogging
website reported lower advertising revenue in its latest
Airline stocks, including JetBlue, Delta
and United Continental rose more than 2 percent after
Trump met with top executives of the companies.
A report from the Labor Department showed the number of
Americans filing for unemployment benefits fell to a near
43-year low of 234,000 last week, pointing to tighter labor
Advancing issues outnumbered decliners on the NYSE by 1,907
to 950. On the Nasdaq, 2,037 issues rose and 739 fell.
The S&P 500 index showed 36 new 52-week highs and one new
low, while the Nasdaq recorded 115 new highs and 18 new lows.
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by