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The Closing Bell: Dow Rises By Triple Digits As Stock Market Carves Out Records All S&P Sectors Up
FYI: Meet Wall Street's new $20 trillion dollar man: Mr. Market.
Mr. Market is the nickname for the benchmark Standard & Poor's 500 stock index. In early trading Monday the large-company stock gauge not only hit another fresh high, but it also hit a record market value of $20 trillion, according to data from S&P Dow Jones Indices. Heading into today, the S&P 500 needed to top 2324.22 for its value to get to the $20 trillion milestone. In early trading it surpassed that level, hitting 2327.34.
The rally is a continuation of a sharp rise in stock prices since Donald Trump was elected president on Nov. 8. Wall Street has been in risk-taking mode as investors bet that Trump's promised moves to lower income taxes for corporations and other policies deemed positive for economic growth will warrant higher stock prices.
