U.S. stocks close at record highs as post-election euphoria continues

Posted at 5:02 PM, Nov 21, 2016
and last updated 2016-11-21 17:03:09-05

NEW YORK — The post-election euphoria on Wall Street continues to grow.

The S&P 500 climbed to all-time highs on Monday, notching its first record close since August. The index is now up nearly 3% since Donald Trump’s election.

The Dow also hit a new high, taking it closer to the 19,000 level.

The Nasdaq, which struggled initially after the election, also rose to a record high on Monday, its first since September.

Many predicted stocks would plunge, or even crash, should Trump upset Hillary Clinton. Initially that did happen, with overnight markets plummeting the night of the election.

Yet that freakout proved short-lived, with stocks racing higher on Election Day. Instead of focusing on fears that Trump could start a trade war, investors are hoping the president-elect will unleash the U.S. economy by cutting taxes and ramping up infrastructure spending.