US stocks all soar to records
(VOVWORLD) - Donald Trump's victory in the US Presidential election and the Federal Reserve's decision to cut interest rates by 0.25 percentage points propelled US stock indices to record highs.
 Traders at the New York Stock Exchange in New York, the United States (Photo: Xinhua/ VNA) |
As of the close of trading on Friday, the S&P 500 index rose by 0.4%, marking its fourth consecutive day of gains. During the session, the S&P 500 briefly surpassed the 6,000-point mark for the first time. Over the course of the week, the S&P 500 recorded a 4.7% increase.
The blue-chip Dow Jones Industrial Average DJIA rose 0.6% to finish at 43,988.99 after crossing 44,000 for the first time earlier in the session. The Nasdaq index saw a smaller increase of 17.23 points, or 0.1%. By the end of the trading week, all three indices closed at record highs.
Investors are optimistic about the pro-business policies anticipated under the Trump administration, particularly the planned reductions in personal and corporate taxes and the loosening of business regulations, which are expected to translate into a positive outlook for the market.