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The Dow and S&P 500 both closed above key milestones on Monday as Wall Street built on a roaring post-election rally. The "Trump trade" again took the spotlight in markets, with bitcoin (BTC-USD) nearing $87,000 and shares of Tesla (TSLA) jumping for a fifth straight session.
The Dow Jones Industrial Average (^DJI) led the way higher, up almost 0.7% to close above 44,000 for the first time ever, while the S&P 500 (^GSPC) closed above the 6,000 milestone. Both indexes are coming off their best week of the year, capped by record highs.
Meanwhile, the tech-heavy Nasdaq Composite (^IXIC) closed just above the flat line as Nvidia (NVDA), Apple (AAPL), and Meta (META) lagged.
Small-cap stocks also rose, with the Russell 2,000 (^RUT) hitting its highest level since November 2021.
The markets opened on Veterans Day near all-time highs thanks in large part to expectations for lower corporate taxes and deregulation from President-elect Donald Trump. The Federal Reserve's latest interest rate cut also buoyed the mood.
Bitcoin hit a record amid high hopes for a crypto-friendly Trump administration and Congress. Dogecoin (DOGE-USD) and other smaller digital currencies also gained as traders bet on Trump's promise to make the US a leading light in crypto.
That optimism also helped push crypto-rel
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2024/11/11
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