The Dow Jones Industrial Average surged more than 300 points on Monday and was on pace for a record close as the benchmark’s postelection rally presses forward.
The 30-stock index zoomed 304.14 points to 44,293.13.
The S&P 500 index gained 5.81 points to 6,001.35.
The NASDAQ slid 11.99 to 19,298.76.
JPMorgan Chase hiked 1.2% and Goldman Sachs popped 2.2%, to lead the Dow higher. Bank of America and Citigroup shares were up 2% each. The cohort has posted sharp gains since Donald Trump’s election win last week, as investors hope his return to the White House could
lead to easier regulation of the banking sector.
Bitcoin surged above $87,000, boosted by hopes of deregulation as well. Crypto related stocks Coinbase moved skyward 23% and Mara Holdings rallied 31%. Tesla soared more than 7%, also adding to its postelection gain.
Bond markets were closed Monday for Veterans Day
Oil prices stumbled $2.15 to $68.23 U.S. a barrel.
Prices for gold faltered $65.30 an ounce to $2,629.30 U.S.
