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		</div><p>Wall Street notched another set of milestones today as the Dow Jones industrial average closed at a record high for a 12th consecutive time.</p>
<p>The feat marked the longest winning streak for the 30-company average in 30 years.<br />
The Standard &#038; Poor&#8217;s 500 index, the benchmark favoured by professional investors, also closed at a record high.</p>
<p>The latest push into the record books came on an indecisive day for US stocks that sent indexes wavering between small gains and losses for much of the day.</p>
<p>They ultimately eked out tiny gains, led by energy stocks, which climbed as the price of crude oil rose. Phone companies lagged the most.</p>
<p>Many investors were taking a wait-and-see approach ahead of President Donald Trump&#8217;s speech to Congress on Tuesday, hoping for details of promised tax cuts, infrastructure spending and other business-friendly policies.</p>
<p>&#8220;It&#8217;s all about policy now,&#8221; said Phil Blancato, CEO of Ladenburg Thalmann Asset Management.<br />
&#8220;There&#8217;s only so much the market can deliver when there&#8217;s still these many unknowns, specifically the Washington impact is now as much a head wind as it is a tail wind.&#8221;</p>
<p>The Dow Jones industrial average rose 15.68 points, or 0.1%, to 20,837.44. The S&#038;P 500 gained 2.39 points, or 0.1%, to 2,369.73. The Nasdaq composite index added 16.59 points, or 0.3%, to 5,861.90. Small-company stocks fared better than the other indexes, sending the Russell 2000 index up 13.44 points, or 1%, to 1,407.97.</p>
<p>The last time the Dow posted a longer winning streak was in early January 1987, when the average rose for 13 days in a row. That streak translated into a gain of 11% for the Dow. Nine months later, on October 19 1987, the Dow plummeted more than 500 points, or about 22%, on what became known as Black Monday.</p>
<p>Just because the Dow is on another lengthy winning streak does not mean a similar market slump is in the cards now, noted Ryan Detrick, a senior market strategist for LPL Financial.</p>
<p>One key difference is that the Dow went on to gain another 30% in the months after the 13-day streak in January 1987. By comparison, the Dow is now up about 5.4% this year, so there remains a long way to go before the market becomes as stretched as it was 30 years ago, Mr Detrick said.</p>
<p>&#8220;That isn&#8217;t to say a normal correction after the big surge since the US election isn&#8217;t possible, it is, but a major bear market correction is still something we&#8217;d call a low percentage scenario right now,&#8221; he said.<br />
US stocks have benefited from the Trump administration&#8217;s promise of pro-business changes, but investors have become uneasy over how large and rapid those changes will be.</p>
<p>During a meeting with governors on Monday, Mr Trump noted that his upcoming budget would include a big boost to defence spending. The White House separately said that the budget would include a 54 billion dollar (£43.4 billion) increase in defence spending while imposing corresponding cuts to domestic programmes and foreign aid.</p>
<p>Talk of more defence spending gave a lift to defence contractors on Monday. Raytheon added 1.35 dollars, or 0.9%, to 154.83 dollars. Northrop Grumman gained 3.55 dollars, or 1.4%, to 248.60 dollars. Lockheed Martin climbed 5.18 dollars, or 2%, to 269.36 dollars.</p>
<p>Expectations that the Trump administration will ramp up infrastructure spending projects also gave materials companies a boost. Martin Marietta Materials rose 5.21 dollars, or 2.5%, to 215.26 dollars, while Vulcan Materials added 2.78 dollars, or 2.4%, to 120.60 dollars. Summit Materials gained 50 cents, or 2.1%, to 24.25 dollars.</p>
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