america celebrates: stock market average sets new record for businessman president trump <u+201c>it<u+2019>s a relief rally over the certainty of the outcome of the election and after the conciliatory tone that trump took,<u+201d> said nick skiming, a fund manager at jersey, channel islands-based ashburton ltd. his firm oversees $10 billion. <u+201c>there<u+2019>s hope that a new president can introduce reforms that will enable corporate america to move forward.<u+201d>   10, 2016 the dow jones industrial average rose to an all-time high as u.s. stocks added to a rally sparked by speculation donald trump<u+2019>s policies will benefit businesses, with banks surging to the highest level since may 2008. 




the dow rose 163.30 points, or 0.9 percent, to 18,752.99 at 9:45 a.m. in new york, taking it above its aug. 15 record . the s&p 500 index advanced 0.9 percent to 2,181.50, within 0.4 percent of a record. 




banks surged 3.7 percent pushing the two-day advance to 8 percent. jpmorgan chase & co. jumped 4.9 percent, while goldman sachs group inc. climbed 2.9 percent. drugmakers advanced, led by pfizer inc.<u+2019>s 3.1 percent rally. industrial shares rose 1.6 percent, with boeing co. adding 2.7 percent. 




the three industries have paced the rally since trump<u+2019>s surprise win on tuesday, surging on expectations that the president-elect and republican-controlled congress will roll back regulations and boost infrastructure spending. trump<u+2019>s promise to revive american infrastructure means commodities used to build everything from airports to bridges will benefit under his presidency, according to goldman sachs group inc. 




<u+201c>it<u+2019>s a relief rally over the certainty of the outcome of the election and after the conciliatory tone that trump took,<u+201d> said nick skiming, a fund manager at jersey, channel islands-based ashburton ltd. his firm oversees $10 billion. <u+201c>there<u+2019>s hope that a new president can introduce reforms that will enable corporate america to move forward.<u+201d> share this article
america celebrates: stock market average sets new record for businessman president trump
geoffrey grider