U.S. stocks extend record run on bullish sentiment

U.S. stocks continued to rally Monday, with all three major indices refreshing record highs once more, as U.S. President Donald Trump's comments on tax cut last week ignited investor euphoria.

The Dow Jones Industrial Average rose 142.79 points, or 0.70 percent, to 20,412.16. The S&P 500 added 12.15 points, or 0.52 percent, to 2,328.25. The Nasdaq Composite Index gained 29.83 points, or 0.52 percent, to 5,763.96.

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

In corporate news, shares of Teva Pharmaceutical Industries Limited jumped 5.62 percent to 34.00 U.S. dollars apiece Monday after the drug maker reported better-than-expected quarterly results.

There are no major economic data due Monday.

Overseas, European equities also increased broadly Monday amid the European Commission's latest economic forecast for the euro zone. German benchmark DAX index at Frankfurt Stock Exchange climbed 0.92 percent, while British benchmark FTSE 100 Index inched up 0.28 percent.

In Asia, Chinese stocks rose for the fourth straight trading day on Monday as liquidity concerns eased after the central bank resumed cash injections into the money market. The benchmark Shanghai Composite Index went up 0.63 percent to 3,216.84 points. Enditem