US stocks edge higher, inching closer to record highs

The final week of trading in 2016 began on a firm note, with most major US equity indices opening with minor gains. After a Christmas holiday break on Monday, trading resumed on Tuesday but trading volumes were thin with many market participants still away for year-end holidays.

At the time of reporting, the Dow Jones Industrial Average advanced 40-points and moved within striking distance of the psychologically important 20,000 milestone. Meanwhile, the broader S&P 500 index gained around 10-point and rose to 2273, and tech-heavy Nasdaq Composite Index outperformed and added 46-point to surpass 5,500 mark. 

On economic data front, the Conference Board's consumer confidence index jumped to 113.7 in December from 109.4 (revised up from 107.1 previously reported). Today's upbeat reading added to the prevalent positive sentiment following Donald Trump's surprise victory in the US presidential election and with lower trading volumes, amid thin economic docket, might aggravate the moves and lift major indices to new record levels.