US stocks mixed - Nasdaq lower, Dow & S&P 500 hit record highs

Major US equity indices witnessed yet another positive opening on Thursday, with both the Dow Jones Industrial Average (DJIA) and S&P 500 Index hitting fresh all-time intraday record highs. Rallying oil prices, with WTI crude oil gaining over 2.0%, pushed energy stocks and drove the markets higher.

At the time of writing, DJIA added around 40-points, gaining bullish traction for the tenth consecutive day, and rose to 20815, while the broader S&P 500 Index was up nearly 4-points to 2,367. Meanwhile, tech-heavy Nasdaq Composite Index underperformed and drifted into negative territory, losing over 6-points to 5,854.

On the US economic data front, weekly jobless claims rose more-than-expected for the week ended Feb. 17 but the four-week average of claims fell to its lowest level since 1973, clearly pointing to the underlying strength in the labor market.

Meanwhile, the US Treasury Secretary Steven Mnuchin, in an interview to CNBC, reiterated Trump's promise to unveil 'phenomenal' tax reforms and further collaborated to boost the already upbeat investors’ sentiment. 

Market participants, however, might start getting complacent and the ongoing strong bullish rally runs the risk of a sudden reversal unless there are some concrete results from the new administration's fiscal policies.