Wall Street's main stock indexes rose to fresh all-time closing highs on Friday 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 percent since Trump's November 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. "Investors were worried that the administration may have gotten off track and was pursuing other items," said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh. "Tax cuts have gotten put back on the front burner," Forrest said, adding, "We are looking for gains in the economy at large from this, not just (earnings per share) gains in stocks." The Dow Jones Industrial Average rose 96.97 points, or 0.48 percent, to end at 20,269.37, the S&P 500 gained 8.23 points, or 0.36 percent, to 2,316.10 and the Nasdaq Composite added 18.95 points, or 0.33 percent, to 5,734.13.
Get live News Updates visit us at http://www.ripplesadvisory.com/nifty-future-.php or One Missed Call on @9303-093093
No comments:
Post a Comment