Trump rally pushes Dow to another new record

Traders work on the floor of the New York Stock Exchange. Photo/Getty Images

Traders work on the floor of the New York Stock Exchange. Photo/Getty Images
Business
By Randy Tucker
Dec 12, 2016
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The Dow Jones Industrial Average closed at another record high Monday, continuing a red-hot, post-election rally that propelled all three of the major stock market indices to close at record highs last week.

The Dow ended the trading session Monday at 19,796.43 — up 0.20 percent, and the index’s 15th record since president-elect Donald Trump won the election on Nov. 8, leading market watchers to refer to the resurgence in equities as a “Trump Rally” or the “Trump Bump.”

RELATED: Markets stabilize after post-Trump jitters

While the S&P 500 and Nasdaq composite indices gave back some of their gains on Monday, they’ve benefited from the Trump boost, too.

The S&P closed down 0.11 percent at 2,256.96 on Monday, but the index is up more than 117 points since Election Day. Meanwhile, the tech-heavy Nasdaq closed down 0.59 percent at 5,412.54 but is still up more than 219 points since Nov. 8.

RELATED: U.S. stock markets rise after Trump elected president

Many investors see Trump as pro-business and believe his infrastructure spending plans and tax cut proposals will boost economic growth.

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About the Author

Randy Tucker