Nasdaq just hit a a record high

Helen Cahill
Follow Helen
Nasdaq Market In New York
US stocks are also near record highs after the election of Donald Trump (Source: Getty)

The Nasdaq index just hit a new record high.

The index rose 0.2 per cent to at 5,342.09 in the minutes of opening trade, moving past its previous intraday high of 5,342.88 on 22 September.

The US stocks are also near record highs following the election of Donald Trump to become the next President of the USA. The Dow Jones is now at 18,900 and the S&P 500 is at 2,186.

Markets are hopeful that Trump will pursue pro-growth policies, although he hasn't finished picking his top team quite yet.

Read more: Euro under pressure as US dollar heads for 10th day of gains

The US dollar has also been performing strongly, putting other currencies, notably the euro, under pressure. The currency is set for its 10th day of gains in a row. The dollar index, which measures the currency against a basket of foreign peers, was up 0.22 per cent this afternoon.

The strength of the dollar comes after Federal Reserve chair Janet Yellen said yesterday that a rate rise could come "relatively soon". The US has also recently posted strong inflation and housing data.

She also confirmed she will be remaining in her position until 2018, and used her testimony to the Joint Economic Committee in Washington to defend the Dodd-Frank Act, which Trump has promised to repeal.

Related articles