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U.S. stocks open higher on bullish sentiment

Xinhua, February 13, 2017 Adjust font size:

U.S. stocks opened higher Monday as U.S. President Donald Trump's comments on tax cut last week ignited investor euphoria.

Last week, Trump said his administration will be announcing a "phenomenal" tax plan over the next two or three weeks.

Boosted by Trump's remarks, the so-called "Trump rally" regained momentum last week. On Friday, U.S. stocks kept rising, with all three major indices refreshing previous day's record highs, as investors cheered over Trump's promise.

Some analysts believed that the market's record-setting advance still has room to run.

U.S. stocks have posted solid gains since Trump won the presidential election, as investors bet that he would pursue massive corporate tax cuts, deregulation, and infrastructure spending.

There are no major economic data due Monday.

Shortly after the opening bell, the Dow Jones Industrial Average rose 69.23 points, or 0.34 percent, to 20,338.60. The S&P 500 added 6.85 points, or 0.30 percent, to 2,322.95. The Nasdaq Composite Index gained 21.30 points, or 0.37 percent, to 5,755.42. Endi