US stocks continue scaling new heights, hit fresh intraday all-time highs

   •  Risk-on mood in full swing. 
   •  Strong Q3 earnings support bullish momentum. 
   •  Progress over a long-awaited US tax-cut plan holds the key. 

Major US equity indices marched higher and pushed into fresh record territory as investors cheered better-than-expected private-sector employment data. 

According to the ADP report, private-sector employers added 235K new jobs during the month of October, marking a gain of 110K from September and surpassing consensus estimates pointing to a reading of 200K. 

Today's upbeat data added to the already buoyant sentiment led by healthy third-quarter corporate earnings reports and progress around a long-awaited US tax-cut plan. The legislation was planned for release on Wednesday but has been delayed by a day to resolve some differences. 

Meanwhile, a sharp rally in oil prices, with WTI crude oil pushing through $55.00/barrel mark for the first time in over two-years, remained supportive of increasing investors' appetite for riskier assets - like equities.

All eyes would remain on the key FOMC announcement, where the central bank is universally expected to keep rates on hold, but leave doors open for a December rate hike. Also on radar would be the US President Donald Trump's pick for the next Fed Chair, expected to be announced on Thursday.

At the time of writing this report, the Dow Jones Industrial Average added nearly 140-points to 23,515, while the broader S&P 500 Index gained over 12-points to 2,587. Meanwhile, tech-heavy Nasdaq Composite Index climbed around 19-points to 6,745.