The Dow Jones Industrial Average and S&P 500 both reached major milestones on Monday as Wall Street continued its robust post-election rally, fueled by optimism surrounding President-elect Donald Trump’s policies. The Dow closed above 44,000 for the first time, rising nearly 0.7%, while the S&P 500 broke past the 6,000 mark. This follows a week of record highs for both indexes, driven by expectations of lower corporate taxes and regulatory rollbacks.
Bitcoin also surged, approaching $87,000 amid anticipation of a crypto-friendly regulatory environment under the Trump administration. Tesla shares rose for a fifth consecutive session, climbing over 8% and bolstering the “Trump trade” narrative as the company’s market value surpassed $1 trillion. Small-cap stocks rallied as well, with the Russell 2000 hitting levels not seen since November 2021.
Despite the bullish sentiment, Wall Street remains cautious ahead of upcoming inflation data, which may signal future Federal Reserve rate moves.
