NEW YORK: Wall Street’s main stock indexes rose to fresh all-time closing highs as a spike in oil prices supported energy shares and investors renewed their optimism about President Donald Trump’s economic agenda. The S&P 500 tallied its fourth straight session of gains a day after Trump vowed a major tax announcement in the next few weeks. The benchmark S&P 500 has surged 8.3% since Trump’s Nov 8 election, fuelled by expectations he will lower corporate taxes, reduce regulations and increase infrastructure spending. The rally had stalled amid concerns over Trump’s protectionist stance and lack of clarity on policy reforms. The Dow Jones Industrial Average rose 96.97 points, or 0.48%, to 20,269.37, the S&P 500 gained 8.23 points, or 0.36%, to 2,316.1 and the Nasdaq Composite added 18.95 points, or 0.33%, to 5,734.13. The S&P and Dow closed at a record high for a second straight session, while the Nasdaq extended its streak of record closes to a fourth day.
Published in The Express Tribune, February 12th, 2017.
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