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2016.11.1000:28:00UTC+00Stocks Rally After Trump Triumph

Wall Street jumped over one percent, as investors welcomed the election of Donald Trump being the U.S. president, seizing stocks and selling bonds in speculation that his plans for fiscal stimulus could succeed. Trade volumes were approximately 12 billion shares, the highest since the Brexit vote to leave the European Union.

The Dow Jones industrial average climbed 1.4 percent at 18,589.69. The S&P 500 advanced 1.11 percent at 2,163.26 while the Nasdaq composite gained 1.11 percent at 5,251.07.

The Dow recorded its second largest rise this week, led by the rally in engineering, financial and pharmaceutical companies. Financials led seven sectors higher by rising four percent in the S&P 500 while utilities were the biggest decliners. Banks and diversified financials like Morgan Stanley led financial sector gains and biotech stocks led health care advances. Gains in biotech stocks from Nasdaq offset losses in major tech names that include Amazon.com, Alphabet, Apple, Facebook and Microsoft.

Gainers were a notch above decliners on the New York Stock Exchange, with an exchange volume of 1.41 billion and a composite volume of 6.16 billion.

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