NEW YORK: Wall Street hit another record close Monday on all three major US stocks indices, as equities resumed their post-election upward trend driven in part by spiking energy shares.
The Dow Jones Industrial Average finished up 0.5 percent at 18,956.69. The S&P 500 gained 0.8 percent to close at 2,198.18. The tech-heavy Nasdaq was up 0.9 percent at 5,368.86.
The major US indices have rallied since this month’s presidential elections, hitting successive records on investor expectations that the incoming administration will loosen regulations and implement business-friendly policies.
Hopes of production limits by oil producing countries sent futures northward, with a barrel of WTI light, sweet crude closing up $1.88 in New York.
The strong gains on the oil markets were clearly welcome on Wall Street, where Marathon Petroleum jumped 8.9 percent, ConocoPhillips gained 3.6 percent, Exxon Mobil rose 1.4 percent and Chevron added 0.9 percent.
