US shares trade at record levels

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NYSE traderImage source, Getty Images

(Close): US shares made new records on Tuesday, following a long-weekend break.

The Dow Industrial, the S&P 500 and Nasdaq were all trading at record levels, with the Dow recording its eighth consecutive session of gains.

Retailers were among the big winners after Wal-Mart reported strong fourth quarter sales. Its shares rose 3%.

Kraft Heinz shares lost 1.8% in the first trading session since it withdrew its bid for Unilever.

US shares have risen more than 11% since Donald Trump was elected president in November.

Investors are hoping that his campaign pledges to raise spending and lighten regulation will boost US business.

"Once again, there is plenty of media attention on policy uncertainty, but once again, the stock market continues to treat it all as just background noise and continues to act as if it will all get worked out in a favourable fashion," said analyst Patrick O'Hare.

The Dow Jones index rose by 0.6% to 20,743, while the broader S&P index also gained 0.6% to 2,365.38.

The tech-heavy Nasdaq added 0.5% to 5,865.95.