NEW YORK | Wall Street rose sharply on Monday, with the three leading indices closing the record for the third consecutive session: the Dow Jones took 0.70% and the Nasdaq 0.52%.
According to the final results, the leading index Dow Jones Industrial Average advanced 142.79 points to 20 412.16 points and the Nasdaq, dominated by technology, 29.83 points to 5763.96 points. The S & P 500 expanded index gained 12.15 points, or 0.52%, to 2328.25 points.
“There is a sort of party atmosphere and investors do not want to feel isolated,” said Jack Ablin of BMO Private Bank.
This rise was triggered by remarks by US President Donald Trump last week that said it wants to announce “something in the two or three weeks that will be phenomenal in terms of taxes”.
Despite the lack of detail, “the market seems to leave him the benefit of the doubt,” commented Bill Lynch of Hinsdale Associates.
Hopes of Favorable Measures
Like what happened after Donald Trump’s election in November, hopes for business-friendly measures are pushing up the stock market, especially financial stocks.
Within the Dow Jones flagship, Goldman Sachs and JPMorgan took 1.46% to $ 246.27 and 0.76% respectively to $ 113.91.
The Apple computer giant finished at its highest closing level, at $ 133.29 after rising 0.89%.
“For now, the market is simply enjoying the idea that tax reform is coming soon,” Patrick O’Hare of Briefing confirmed in a note.
Starting today, investors will turn to Congress, where the President of the US Central Bank (Fed) Janet Yellen will speak for two days. They will look for clues about the pace of US monetary tightening over the course of the year.