A day after voters chose to send Donald Trump to the White House, the expectation of less austerity and more pro-business policies propelled the Dow Jones Industrial Average to a new high at the opening bell.
The Dow easily sailed above its previous intraday record high of 18668 points at the start of trade, though it pared those gains early in the session. In recent action, it rose 140 points, or 0.75% to 18728. In order to close at a fresh high, the index needs to finish above its previous record close of 18636.05, which it set back in August. full story
Trump Optimism Propels Dow to Best Week in Five Years
A whipsaw week powered by election uncertainty for markets ended on a high note as the Dow notched a fresh record high and the best five-day period since 2011.
On Friday, equities took a bit of a breather from a two-day stretch of solid gains fueled by Donald Trump’s surprise victory on election night and the perception of a pro-business president taking over the White House. As evidence of the calm that settled over stocks, the Dow crossed the unchanged line more than 150 times during the session.
By the closing bell, the Dow Jones Industrial Average rose 37 points or 0.20% to 18845, and leaping more than 5% for the week. The broader S&P 500 finished down by three points, but not before tacking on weekly gains of 3.79%. full story