U.S. Daily Market Review
The Dow Jones started the session at record high levels as stocks and futures are further benefiting from Donald Trump’s election victory. Dow Jones registered the biggest gain since December 2011 and jumped to 18,918.68 on opening before slipping back.
Financial stocks helped the rally, with Goldman Sachs and JP Morgan among the biggest gainers. The broader S&P 500 index added 2.16 points to 2,166.61.
Shares in automotive electronics-maker Harman International Industries jumped by a quarter after Samsung Electronics said it was buying the company for $8bn (£6.4bn).
Shares of steel companies gained again today, after Morgan Stanley turned bullish on the sector, stating that Donald Trump’s election win makes the sector investible for the first time in a decade. Several analysts upgraded both U.S. Steel Corp.-6.22% and AK Steel Holding Corp.-6.13% to overweight from equal weight.
The most surprising winner in the stock market following Donald Trump’s surprise win to become president-elect may be the New York Times Co. Since Trump was elected president, the stock of the company added 9% as of Friday’s close, and it this represents a rally of 2% in early trading Monday.