The Dow finished above 20,000 points for the first time on Wall Street last night after breaching the milestone at the open.

Shares extended a stocks rally following US President Donald Trump's election, which sparked hopes of pro-growth policies.

The Dow Jones Industrial Average, the blue-chip index, jumped 0.8%to close at 20,068.51. 

The broad-based S&P 500 also rose 0.8% to end at 2,298, while the tech-rich Nasdaq Composite Index advanced 1% to finish at 5,656.34, both new records.

US stocks rose sharply after the election, although they had stalled from mid-December to this week. 

Analysts said the shift was triggered by Trump's announcements earlier this week to advance two major pipeline projects that had been blocked by former president Barack Obama.

Investors are betting that Trump will usher in a pro-growth agenda that includes tax cuts, and avoid pitfalls, such as starting a trade war.

Beyond the Trump effect, yesterday's records came on a busy day for earnings that included better-than-expected results from Boeing, which shot up 4.2% to make it the biggest gainer in the blue-chip index.

Caterpillar rose 2% and Apple 1.6% ahead of their earnings releases in the coming days.

Financial stocks, big winners since Trump's election, also climbed, with JPMorgan Chase and Goldman Sachs both up about 1.5%.