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As Wall Street surges, more are worried about valuation

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New York - The US stock market's surge since the election has reignited a debate on valuation and whether the market can go higher still after hitting some significant milestones.

The Dow on Wednesday soared above 21 000 points for the first time following President Donald Trump's first major address to Congress. After pulling back on Thursday, stocks tentatively resumed the upward climb on Friday, finishing slightly higher.

Analysts say Trump's more conciliatory tone during his Tuesday night congressional address lifted hopes he will win approval for tax cuts and other growth measures strongly backed by the market.

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