Friday, 9 December 2016

Wall Street again marks new highs in post-election run

Major US stock indexes climbed again on Thursday and set fresh record highs as a month-long rally following the presidential election of Donald Trump rolled on. Investors have driven up equities since Trump's November 8 election over optimism about domestic economic stimulus and reduced corporate taxes and regulations. Supporting the upbeat sentiment on Thursday was a report that showed the number of Americans filing for unemployment benefits fell from a five-month high last week, pointing to labour market strength that underscored the economy's momentum. "This is just a continued melt-up post-election. The path of least resistance has been higher," said Jason Ware, chief investment officer with Albion Financial Group in Salt Lake City, Utah.

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