The Dow came within one point of 20,000 for the first time on Friday and the Nasdaq and S&P 500 reached record highs, boosted by Apple, extending a two-month rally fueled by optimism about U.S. President-elect Donald Trump.
The markets ended the week on a positive note on Friday as investors doubled down on a rally fueled by optimism that President-elect Donald Trump's policies will boost economic growth. The Dow Jones Industrial Average, which briefly came within striking distance of the historic 20,000 level earlier this week, recorded its seventh straight weekly gain.
The fourth quarter got off to a weak start for U.S. stock investors on Monday, with banks and utilities pulling the S&P 500 lower. Major indexes have bounced between gains and losses in the past few days, with investors nervous about the outcome of a tight race for the White House ahead of the Nov. 8 election.
U.S. stocks fell today as the possibility of a $14 billion fine against Deutsche Bank weighed on big banks and investors wrestled with lingering uncertainty about when the U.S. Federal Reserve will hike interest rates.
The Nasdaq composite rose to a record high close on Tuesday while other major indexes hovered near their own recent all-time highs in a session with thin trading volume.
Wall Street ended lower on Wednesday after the Federal Reserve left interest rates unchanged but opened the door to a possible rate increase later this year.
