US stocks rallied yesterday to see the Dow closing at another record high.
The rally came amid optimism about the spending outlook at Wal-Mart and the belief that falling gasoline prices will help boost consumer spending.
Shares of Wal-Mart hit an 18-month high after the world's biggest retailer said it expects to slow its store expansion and spending growth next year in an effort to boost return on investment.
Wal-Mart was the Dow's top gainer and among the major advancers in the S&P 500 Index.
Google also rallied to a new all-time high of $484.64 following the web search company's quarterly profit report last week.
Sentiment also improved after the government said the US retail price of gasoline fell to an average $2.23 a gallon, dropping for a record 10th week in a row.
The Dow Jones industrial average climbed 114.54 points, or 0.95 per cent, to end at 12,116.91, a record high.