Four leading US equity indices, including the country's primary benchmark the S&P 500, hit record highs in Monday's trading following a rebound in crude oil and expectations of a considerable spending plan by the President-elect Donald Trump.
The Dow Jones Industrial Average and the Russell 2000 index of smaller companies have been outperforming since Trump's victory earlier this month, rising a further 0.5% yesterday (21 November) to close at 18,957 and 1,322 points respectively. Meanwhile, the S&P 500 jumped 0.8% to 2,198, and the technology-focused Nasdaq Composite also managed to hit a new peak, rising by 0.9% to 5,369. Markets benefited from the rebound in crude oil prices on Monday with Opec producers meeting in Vienna at the end of the month, where an output cut deal is expected. Brent crude prices climbed by 2.2% t...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
