Investors pushed U.S. stocks higher on Monday as markets gauged the aftermath of this weekend’s shocking assassination attempt on Donald Trump.
The Dow Jones Industrial Average rose by more than 180 points, around half a percentage point, to hit a new record high. The biggest gainer on the blue-chip index was Caterpillar, whose stock rose by more than two percent.
The S&P 500 index rose six-tenths of a percentage point and is near making a new record high. The Nasdaq Composite rose by nearly one percent to near the record high hit last week.
Many investors are focused on the so-called “Trump trade,” assessing which stocks and assets will do better if Trump wins back the presidency in November. Analysts on Wall Street believe the odds are rising that Republicans will not only take the White House but also the Senate, which retaining control of the House, for a GOP sweep.
Bond yields moved up a bit on Monday. Yields move in the opposite direction of prices. The price of oil fell by around half a percentage point. Gold moved higher by three-tenths of a percentage point. Bitcoin rose by five percent.
Seven of the 11 sectors of the S&P 500 rose Monday morning, led by financials, consumer discretionary, and communications services. Utilities, health care, consumer staples, and real estate sectors declined.
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