Dow spikes 332 points, closes above 26000

"If the Dow Jones Industrials rises by a further 1.3% to 26,450 by the close on Friday the headline United States index will have generated its best return ever in the first year of any post-war President, something which Donald Trump may well be keen to crow about on Twitter", Mould said, in a note. Many multinational corporations have announced onetime charges for bringing home money held overseas, but investors expect them to benefit in the long run from the decision to cut the standard tax rate from 35 percent to 21 percent and are bidding up their share prices. US crude rose 0.06 percent to $64.01 per barrel and Brent was last at $69.36, down 0.03 percent.

Ford Motor slumped 7 percent after the automaker gave a disappointing profit forecast for the year because of weaker sales in the US, higher commodity costs and its investments in new electric and hybrid cars.

Maris Ogg of Tower Bridge Associates told AFP the sustained rally was boosted by a "confluence of good news", including strong company earnings, slashed corporate tax rates, higher worker compensation and new investment.

"Fourth quarter in terms of net interest margins for money centre banks were better than expected, so that's good news". Goldman's trading desks had a weak quarter.

La Quinta Holdings jumped about 5% after Wyndham Worldwide said it would acquire the company's hotel operations for $1.95 billion.

Bank of America's fourth-quarter profits fell by almost half from a year ago, as the bank had to book $2.9 billion in charges related to the tax law.

US crude added 24 cents to $63.97 per barrel on the New York Mercantile Exchange. The Brent oil futures rose by 0.12 United States dollars to 69.27 USD per barrel, and USA light WTI crude appreciated by 0.19 USD to 63.93 USD per barrel.

Gold rose $2.10 to $1,339.20 an ounce. Benchmark 10-year notes were last down 8/32 in price to yield 2.6053 percent, from 2.578 percent late on Wednesday. The dollar was last down 0.32 percent against the euro at $1.2223. The digital currency fell 1.6 percent to $11,172, according to the tracking site CoinDesk.

The move for equity gauges also come as the 10-year benchmark yield climbs to a level not seen in months above 2.6%, which could influence appetite for assets perceived as risky like stocks. The futures allow investors to make bets on the future price of bitcoin.

Oil futures were trading lower. Germany's DAX lost 0.5 percent, while the CAC 40 in France slipped 0.4 percent.

Japan's Nikkei 225 index lost 0.4 percent, while the Kospi in South Korea shed 0.3 percent. The Nasdaq composite gained 22 points, or 0.3 percent, to 7,245.