The Dow Jones Industrial Average surged more than 400 points on Monday and was on pace for a record close as Wall Street’s postelection rally presses forward.
The Dow Jones Industrials zoomed 409.01 points to 44,404.98.
The S&P 500 index gained 10.29 points to 6,005.85.
The NASDAQ slid 22.27 to 19,264.15.
JPMorgan Chase, Bank of America and Citigroup shares were up more than 2% each and led the Dow higher. Goldman Sachs and Morgan Stanley advanced nearly 3%. The cohort has posted sharp gains since Donald Trump’s election win last week, as investors hope that his return to the White House could see weaker regulation for the banking sector.
There is no economic data of note expected Monday, but investors will be awaiting inflation readings due out later in the week.
Bond markets were closed Monday for Veterans Day
Oil prices stumbled $1.65 to $68.73 U.S. a barrel.
Prices for gold thundered lower $62.30 an ounce to $2,632.50 U.S.
