Dow Jones hits near-record high as financials soar on Trump victory

Global stockmarkets defy expectations

clock • 4 min read

US stockmarkets rallied following Donald Trump's surprise victory in the 2016 US Presidential Election, with the Dow Jones surging to a near-record high as financials and biotech stocks were buoyed by the news.

The S&P 500 and Nasdaq closed 1.1% higher, at 2,163 and 5,251 respectively, while the Dow Jones soared 1.4% to close at 18,589, having reached a record high during intra-day trading. The gains came despite index futures suggesting the US stockmarket would suffer as a result of Trump's (pictured) victory, with S&P 500 futures pointing to a 5% drop at open immediately following the news. Goldman Sachs and Caterpillar topped the Dow Jones index, rising 5.9% and 7.7%, respectively, as construction and financials were supported by Trump's win.  The new US President's policies are likely...

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