Rubberpigg
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Updated Nov. 21, 2016 8:33 p.m. ET
The S&P 500, Dow Jones Industrial Average and Nasdaq Composite climbed to a trifecta of records Monday as stocks extended their postelection rally.
Investors have piled into banks, health-care stocks and industrials on bets that President-elect Donald Trump would loosen regulation and boost infrastructure spending.
At the same time, they have pulled back from Treasurys and their stock-market proxies, which are less attractive to investors when interest rates rise.
On Monday, stocks rose broadly, led by gains in energy shares as U.S. oil prices reached their highest levels in three weeks.
“The market’s been ripping since the election,” said Bill Costello, portfolio manager at Westwood Holdings Group. Hopes that the Trump administration would usher in a pro-business, pro-growth environment are driving stocks higher yet, Mr. Costello added.
The Dow industrials rose 88.76 points, or 0.5%, to 18956.69, above its Nov. 15 closing record of 18923.06. The S&P 500 rose 16.28 points, or 0.7%, to 2198.18, closing above its Aug. 15 record of 2190.15.
The Nasdaq Composite added 47.35 points, or 0.9%, to 5368.86, passing its record of 5339.52 reached on Sept. 22.
http://www.wsj.com/articles/european-stocks-flat-1479717711
The S&P 500, Dow Jones Industrial Average and Nasdaq Composite climbed to a trifecta of records Monday as stocks extended their postelection rally.
Investors have piled into banks, health-care stocks and industrials on bets that President-elect Donald Trump would loosen regulation and boost infrastructure spending.
At the same time, they have pulled back from Treasurys and their stock-market proxies, which are less attractive to investors when interest rates rise.
On Monday, stocks rose broadly, led by gains in energy shares as U.S. oil prices reached their highest levels in three weeks.
“The market’s been ripping since the election,” said Bill Costello, portfolio manager at Westwood Holdings Group. Hopes that the Trump administration would usher in a pro-business, pro-growth environment are driving stocks higher yet, Mr. Costello added.
The Dow industrials rose 88.76 points, or 0.5%, to 18956.69, above its Nov. 15 closing record of 18923.06. The S&P 500 rose 16.28 points, or 0.7%, to 2198.18, closing above its Aug. 15 record of 2190.15.
The Nasdaq Composite added 47.35 points, or 0.9%, to 5368.86, passing its record of 5339.52 reached on Sept. 22.
http://www.wsj.com/articles/european-stocks-flat-1479717711
