Monday 06 April, 2020

Record post-election high on Wall Street

Published: 23 November 2016 Wednesday, 10:27  AM

Record post-election high on Wall Street

Bonn, Nov 22 ( --  US stocks closed on record highs for the second straight day on Tuesday with the Dow Jones Industrial Average leading the way passing the 19,000 mark.

The post-election rally saw both the S&P 500 and the Nasdaq Composite climb to dizzy heights. It began in financials and then quickly spread to other sectors.

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.

“You’re seeing some strength across the board. That’s a healthy sign and indicates to me that we’re in a bull market,” said market strategist Robert Pavlik.

About 7.3 billion shares changed hands on US exchanges, compared with the 8.1 billion daily average for the past 20 trading days, according to Thomson Reuters data.