US stocks hit fresh record highs at the start of a new quarter

Major US equity indices gained some positive traction and traded in record territory during the opening hour of trade on the first day of the fourth quarter.

Today's modest advance came after the three main benchmarks posted weekly, monthly and quarterly gains as investors remained optimistic over the tax reform plans proposed by the Trump’s administration, which had been one of the key factors behind a series of record setting rally in the markets. 

During the opening hour of trade, the Dow Jones Industrial Average gained over 40-points to 22,447, while the broader S&P 500 Index added nearly 3-points to 2,522. Meanwhile, tech-heavy Nasdaq Composite Index climbed around 14-points and moved beyond the 6,500 round figure mark.

Meanwhile, a sharp retracement in crude oil prices was seen weighing on investors sentiment and might now collaborate towards keeping a lid on any further up-move for riskier assets - like equities.

Later during the day, investors would now take cues from comments by the Dallas Fed President Robert Kaplan. Moving ahead, investors would now take cues from speeches by influential FOMC members, including the Fed Chair Janet Yellen, and the keenly watched NFP figures, scheduled during the course of current trading week.