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February 14 2013, 02:14AM

US stocks have headed higher in opening trade after President Barack Obama laid out economic stimulus plans in his State of the Union address to Congress.

Five minutes into trade, the Dow Jones Industrial Average was up 2.91 points (0.02 per cent) at 14,021.61.

The S&P 500, a broad measure of the markets, rose 3.63 points (0.24 per cent) to 1523.06.

Both indexes were extending five-year highs reached on Tuesday.

The tech-rich Nasdaq Composite climbed 10.06 points (0.32 per cent) to 3196.55.

The positive sentiment on the market followed Tuesday's State of the Union address by Obama, Wells Fargo Advisors said in a market note.

"President Obama's annual agenda included a minimum-wage hike, a boost in infrastructure spending and calls for reducing the budget deficit through tax increases and spending cuts," it said.