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InstaForex Loprais Team - Official participant of the Dakar rally

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InstaForex Loprais Team - Official participant of the Dakar rally

2016.11.1023:01:00UTC+00U.S. Stocks Gained as Dow Climbs Record-High

U.S. stocks edged up as the Dow Jones Industrial Average ended at a record-high, which added over 200 points to the election-week rally. The moves somewhat mirrored expectations that the Trump administration will cause a change to financial regulations and raise government spending in an attempt to bolster economic growth.

The Dow Jones industrial average advanced 1.17 percent to 18,807.88. The S&P 500 gained 0.2 percent to 2,167.48 and the Nasdaq Composite fell 0.81 percent to 5,208.80. Shares of JPMorgan Chase, 3M and Goldman Sachs Group made up for around half of the Dow's point advances. Financial shares led the S&P 500 index's gain by climbing 3.7 percent. The technology sector of the S&P 500 declined 1.6 percent as Amazon.com, Google parent Alphabet and Apple all lost over two percent.

Pharmaceutical firms also gained, as some investors and analysts claim that drug-pricing restrictions may have been more possible under a Hillary Clinton administration. The Nasdaq Biotechnology index was up 1.6 percent. Amgen rose 3.5 percent to $151.57 and McKesson jumped 4.1 percent to 147.49.

Tags: Stock market

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