Wall Street opened higher Thursday, with the Dow setting a record intraday high, as investors bet that President-elect Donald Trump would lead a shift away from austerity policies.

The Dow Jones industrial average was up 60.88 points, or 0.33 percent, at 18,650.57. The S&P 500 was up 7.43 points, or 0.34 percent, at 2,170.69 and the Nasdaq Composite index was up 31.39 points, or 0.6 percent, at 5,282.46.