Wall St Extends Record Rally, Dow Closes in on 20,000

U.S. stocks racked up new all-time highs on Tuesday and the Dow Jones industrial average ended fewer than 100 points away from the 20,000 mark as a post-election rally showed no signs of fatigue.

 All three major indexes established record highs. The Dow has climbed about 9 percent since the Nov. 8 election, with gains fueled by expectations that President-elect Donald Trump will reduce taxes and regulation and stimulate the economy.

Nine of the 11 major S&P sectors rose, with the technology index’s climbing 1.23 percent. The index had lost 0.5 percent on Monday after posting its largest weekly advance in a year last week.

“What we’re seeing is the rally broaden out a little bit from beyond the Russell 2000 and the financial sector,” said Michael O’Rourke, chief market strategist at JonesTrading in Greenwich, Connecticut. “If you’re bullish, tech does look attractive here.”

Apple added 1.67 percent and provided the biggest support to the S&P and Nasdaq, while IBM rose 1.69 percent, helping lift the Dow.

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