White House spokesman Sean Spicer later told reporters that Trump would unveil a comprehensive tax plan including tax cuts for individuals as well as businesses. Canada's largest oil and gas company reported a larger-than-expected fourth-quarter profit on Wednesday as a result of higher global crude prices and improved reliability at the Syncrude oil sands project.
Overseas, European stocks traded along the flatline, with the pan-European Stoxx 600 index trading around 0.06 percent higher.
The ongoing corporate earnings season added to the upbeat mood.
Financials, which have soared since the election, were the best-performing group Thursday, up 1.4 percent, while energy shares gained 0.9 percent.
Wall Street closed up yesterday: The Dow Jones Industrial Average added 0.6 per cent to close at 20,172 the S&P 500 also added 0.6 per cent to close at 2,308 and the NASDAQ also added 0.6 per cent to close at 5,715.
Outside the index, Sears (SHD.O) surged after the retailer said it would cut debt and pension obligations by at least $1.5 billion this year.
Mead Johnson (MJN.N) was up 4.7 percent after Reckitt Benckiser (RB.L) finalised a $16.6 billion deal to buy the infant formula maker.
Gold slipped on Thursday from a three-month high in the previous session after robust USA economic data pointed to a stronger economy, increasing the likelihood that the Federal Reserve will raise US interest rates. Revenue inched up 1 percent, to $717 million.
U.S. Treasury prices fell, snapping a three-day streak of declining yields; the benchmark 10-year yield finished 7 bps higher at 2.40%.
Pats comeback earns fan date with Canadian tennis star Eugenie Bouchard
The Patriots went on to win 34-28 in overtime, and credit to Bouchard, she didn't run from her promise. Eugenie Bouchard of Canada made a bet she'll regret after the Patriots won the Super Bowl.
Corporations with effective rates well above 35 percent would pay significantly lower taxes under either Trump's proposal or the House Republicans' tax plan.
Germany's DAX gained 0.86 per cent to 11,642.86.
The U.S. dollar rose 0.3 percent against a basket of currencies, with the euro near $1.062 and the yen around 113.63.
Nasdaq 100 e-minis were up 6 points, or 0.12 percent, on volume of 19,481 contracts.
Hong Kong rose 0.21 per cent, Shanghai notched up 0.51 per cent and Japan jumped 2.49 per cent.
Benchmark Brent crude was up 54 cents a barrel, or 0.98 percent, at $55.66.
At Thursday's meeting, Trump discussed what he called an obsolete USA air traffic control system, as well as out-of-date airport infrastructure, train systems and roads.
Gold sank 1.19 per cent on a firmer dollar and as the latest bullish United States economic data fuelled rate hike expectations.
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