47° Good Evening
47° Good Evening

U.S. stock indexes hit records; stocks around world up

Stock traders follow market activity, Thursday, Feb. 9,

Stock traders follow market activity, Thursday, Feb. 9, 2017, at the New York Stock Exchange.  Credit: AP / Mark Lennihan

Stock indexes again hit new highs on Monday.

Strong gains for Citigroup and other financial stocks helped the Standard & Poor’s 500 index rise 12.15 points, or 0.5 percent, to 2,328.25. It’s the third straight day the index has set a record.

Other indexes set records as well. The Dow Jones industrial average gained 142.79, or 0.7 percent, to 20,412.16. The Nasdaq composite climbed 29.83, or 0.5 percent, to 5,763.96. Earlier in the day, markets rose across Europe and Asia.

Stocks have resumed their rally in recent days after stalling for a couple weeks. Stronger-than-expected profit reports from companies, continued improvement in the U.S. economy and expectations for business-friendly policies from Washington have helped propel the market.

“The market’s got such good momentum now that it’s going to continue until something slows it down,” said Randy Frederick, vice president of trading and derivatives at the Schwab Center for Financial Research. “There’s really not any negative catalyst right now.”

The S&P 500 has climbed five straight days and is up 8.8 percent since Donald Trump won the White House in November.

The biggest stock in the S&P 500, Apple, is also at a record closing high. It rose $1.17, or 0.9 percent, to close at $133.29.

More news