S&P 500 tops USD 20 trillion as Wall Street trades on Trump

Wall Street Market Update

S&P 500 tops USD 20 trillion as Wall Street trades on Trump US equity indexes hit record highs on Monday, with the benchmark S&P 500’s market value topping USD 20 trillion as investors bet tax cuts promised by President Donald Trump would boost the economy.

The S&P 500 has surged about 9 percent since Trump’s Nov. 8 election, boosted by expectations he would lower corporate taxes, ease regulations governing banks and increase infrastructure spending.

The Dow Jones Industrial Average rose 0.7 percent to end at 20,412.16 points, while the S&P 500 gained 0.52 percent to 2,328.25 points. The Nasdaq Composite added 0.52 percent to end at 5,763.96.

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Posted in: Indian Market Tips