Wednesday, 23 November 2016

Wall Street extends record streak, Dow breaks 19,000 for 1st time

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US stocks extended their post-US election rally on Tuesday with moderate gains that pushed the Dow above 19,000 for the first time and the three major indexes to record closing levels for a second straight day. The S&P 500 ended above 2,200, led by gains in telecommunications , up 2.1 percent, and consumer discretionaries , up 1.2 percent. 

 

The small-cap Russell 2000 index also set another record high close. Stocks have mostly rallied since the Nov. 8 election. Investors see President-elect Donald Trump's promises of tax cuts, higher spending on infrastructure and less regulation as beneficial to certain industries, including banking, industrials and healthcare.

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