Article Originally From: New York Times
United States markets were mostly higher on Thursday, with the Dow Jones industrial average on course to beat its closing high from August. Consumer-focused companies, utilities and technology stocks were among the biggest decliners. The market was following a big rally on Wednesday after the election of Donald J. Trump as the next president.
KEEPING SCORE In early afternoon trading, the Dow rose 1.49 percent, and the Standard & Poor’s 500-stock index was up 0.66percent. The Nasdaq composite index fell 0.26 percent.
TRUMP BOUNCE Mr. Trump’s election put many investors in a buying mood, giving many global stock indexes a lift early Thursday. Traders were focusing on Mr. Trump’s promises to bolster economic growth through infrastructure spending, rather than uncertainties such as what he might do with trade agreements. Before the election, markets were worried about a Trump presidency because his campaign promises carried few policy details, making him an unknown quantity compared with his rival, Hillary Clinton.
THE QUOTE “We had a gangbuster day yesterday; call it a Trump rally,” said Doug Cote, chief market strategist for Voya Investment Management. “Today we’re having a little breather, a little rest, but the key thing that will also keep the market going is the S.&P. 500 corporate earnings for the third quarter are positive for the first time in six quarters.”
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