Stocks closed sharply higher Wednesday as the Dow and S&P hit record highs, while the S&P 500 rose around 1.3 percent, with telecoms rallying around 2 percent to lead advancers.

The Dow gained 297 points, with Home Depot, IBM and Goldman Sachs attributing to the gains. The Dow Transports, meanwhile, traded at their first intraday high since 2014. Since Nov. 8, transports have risen more than 12 percent.

The Nasdaq composite rose 1.1 percent despite the iShares Nasdaq Biotechnology ETF (IBB) shedding around 3 percent.

Entering Wednesday, the Dow had posted gains in 17 of the past 21 sessions and an astronomical 11 record closes since the election. The S&P and the Nasdaq, meanwhile, have risen 3.4 percent and 2.7 percent since Nov. 8, respectively.

President-elect Donald Trump, who won an enormously improbable win, which ignited optimism for more infrastructure spending and deregulation of the private sector, which led to sharp increases in stocks since November 8th.

Follow the Author on Twitter

Follow HYPELINE on Facebook and Twitter

 

 

Facebook Comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here