The S&P 500 Index ($SPX) (SPY) Monday closed up +0.10%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.69%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.05%.
Stocks on Monday settled mixed, with the S&P 500 and the Dow Jones Industrials posting new all-time highs. The broader market extended last week’s post-election gains on speculation President-elect Trump will boost corporate profits through tax cuts and reduced regulation. Also, Tesla rallied more than +8%, adding to last week’s +26% surge on speculation that the company would benefit from a Trump presidency. In addition, cryptocurrency-related stocks soared Monday on speculation digital assets will benefit from the Trump administration’s pro-crypto policies. Trading activity in equities was below average on Monday, with the cash treasury market closed for the Veterans' Day holiday.
