US stock market opens at all-time high

By Ovunc Kutlu

NEW YORK (AA) - The stock market opened at an all-time high on Wednesday amid President Donald Trump's rapid moves to meet his economic and energy goals, giving confidence to investors.

The Dow jumped 119 points to start trading at 20,032, crossing the threshold of 20,000 points for the first time in history.

The S&P 500 increased 10 points to 2,290. The Nasdaq added 38 points to start trading at 5,639 -- the highest-level for the index.

Trump on Monday said he would remove 75 percent or more of regulations on American businesses, and "substantially" reduce taxes and "unnecessary" regulations on American companies Tuesday to bring back manufacturing to the U.S.

The president also signed executive orders Tuesday to allow the construction of the controversial North Dakota Access and Keystone XL oil pipelines.

Trump's quick steps towards meeting his economy and energy objectives provided confidence among investors who have taken a buying position in the market, according to experts.