How the Dow Jones industrial average finished Thursday

The small-stock Russell 2000 index gained 0.9% to an all-time high of 1364.51.

The gains Wednesday were driven by stocks that tend to do well when the economy is growing, like consumer and technology companies, as well as stocks that pay high dividends, like phone and real estate companies.

Banks, technology and materials companies are leading the way higher.

The Nasdaq hit 5,405 shortly after the opening bell in NY, surpassing its November 29 intraday high of 5,403.86.

FILE – In this October 31, 2016, file photo, workers construct a building at Tokyo’s Nihombashi business district.

Oil prices fell 2.3% to $US49.77 for January delivery amid concern U.S. shale producers might raise output next year, while Opec agreed to reduce production.

BAGGED: Handbag and accessories maker Vera Bradley sank after it posted weak results and issued a disappointing outlook for the current quarter.

Investors also are bracing for the European Central Bank’s policy-setting meeting (http://www.marketwatch.com/story/how-italys-no-vote-might-be-the-ecbs-silver-lining-2016-12-05) on Thursday.

KEEPING SCORE: Japan’s Nikkei 225 rose 0.8 percent to 18,649.03 while South Korea’s Kospi jumped 1.1 percent to 2,014.77.

The S&P 500 index showed 96 new 52-week highs and four new lows, while the Nasdaq recorded 313 new highs and 15 new lows. The Shanghai Composite Index slipped 0.2 percent to 3,216.66. Australia’s S&P/ASX 200 added 0.9% to 5,478.10. A 1% rise in shares of Goldman Sachs Group (GS) helped to support the blue-chip benchmark, while a slump in health-care shares of Johnson & Johnson (JNJ) Pfizer Inc.(PFE), and Merck & Co. China is due to report trade figures.

The central bank said it would in April taper its asset-purchase program to buying EUR60 billion ($64 billion) in bonds each month from EUR80 billion until the end of December 2017, “or beyond, if necessary, and in any case until the Governing Council sees a sustained adjustment in the path of inflation consistent with its inflation aim”. Analysts say Donald Trump’s victory in the USA election and Italy’s political crisis have raised global economic risks.

USA equities have scaled new highs since the election, with investors encouraged by Trump’s plans for economic stimulus and to reduce corporate taxes and regulations.

The Dow Jones Industrial Average has gained 260.28 points, or 1.4%, to 19,512.06, also a new record.

The S&P 500 .SPX was down 2 points, or 0.09 percent, at 2,210.23 and the Nasdaq Composite .IXIC was down 13.16 points, or 0.25 percent, at 5,319.84.

Other commodity markets were negative as the February gold contract dropped $5.10 at US$1,172.40 per ounce, March copper contracts lost two cents at US$2.63 per pound, and January natural gas was up nine cents at US$3.70 per mmBTU.

WILD WESTERN: Hard drive maker Western Digital climbed $4.83, or 7.6 percent, to $68.68 after it extended a patient licensing deal with Samsung. Brent crude, the global standard, slid 41 cents to $53.52 a barrel in London.