Stocks closed higher on Wall Street, sending the Dow Jones Industrial Average to another all-time high.
The Dow added 1% Monday to the record it set on Friday. The S&P 500 rose 0.3%, while the Nasdaq composite rose 0.3%. Treasury yields eased in the bond market after President-elect
Donald Trump said he wants Scott Bessent, a hedge fund manager, to be his Treasury Secretary. Smaller companies can feel a big boost from easier borrowing costs, and the Russell 2000 index of small stocks jumped 1.5%, closing just shy of the record high it set three years ago.
On Monday:
The S&P 500 rose 18.03 points, or 0.3%, to 5,987.37.
The Dow Jones Industrial Average rose 440.06 points, or 1%, to 44,736.57.
The Nasdaq composite rose 51.18 points, or 0.3%, to 19,054.84.
The Russell 2000 index of smaller companies rose 35.36 points, or 1.5%, to 2,442.03.
For the year:
The S&P 500 is up 1,217.54 points, or 25.5%.
The Dow is up 7,047.03 points, or 18.7%.
The Nasdaq is up 4,043.48 points, or 26.9%.
The Russell 2000 is up 414.96 points, or 20.5%.
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