US stocks hit fresh records, showing no signs of bullish exhaustion

US equity markets witnessed yet another strong opening on Wednesday, with all the three major benchmark indices setting another round of records immediately after the opening bell. 

The move came following a fresh flurry of corporate earnings from industrial giants, including General Electric (GE) and United Technologies. GE reported a $10 billion loss, slightly better than what the market feared. 

Meanwhile, worries about a protectionist stance, after the US President Donald Trump slapped steep tariffs on imported washing machines and solar panels on Monday, kept exerting downward pressure on the greenback. This coupled with the US Treasury Secretary Steven Mnuchin's comments that a weaker currency is good for trade added to the US Dollar's woes and dragged it to the lowest level since December 2014.

The USD slump, however, was seen helping the stock market as it is expected to boost profits for the US multinationals, especially energy and technology companies, who have a significant portion of their sales overseas. 

Nevertheless, the ongoing bullish run-up is yet to show any signs of exhaustion, with optimism over corporate tax cuts setting up the stage to build on last year's sizeable gains.