November 10, 2016 12:59 PM

printer

Dow ends near record highs following election of Trump

US stocks rallied, yesterday, led by a surge in financial, health-care and industrial stocks, as investors bet on the infrastructure spending policy promised by President-elect Donald Trump. The rally on Wall Street was in contrast to sharp losses seen in the futures market before the market opened. So the Dow Jones Industrial Average spurted as much as 316 points intra-day, briefly surpassing the all-time closing high set in August. The Dow finally closed with a big gain of 257 points, or 1.4%, at 18,590. The Nasdaq Composite surged 58 points, or 1.1%, to 5,251. And the S&P 500 index added 24 points, or 1.1%, at 2,163. Trump's acceptance speech mentioning Keynesian-style spending and sounding a touch more conciliatory than had been the case during his campaign appeared to reset investors' expectations. The President-elect also underscored that infrastructure spending will play a large role in his administration.

Most Read
View All arrow-right

No posts found.