Stock market today: Wall Street rolls higher as bitcoin bursts above $87,000
Most U.S. stocks rose on Wall Street, but drops for Nvidia and some other heavyweight Big Tech companies kept indexes in check
NEW YORK (AP) — U.S. stocks rose Monday, led by those seen as benefiting the most from Donald Trump’s reelection as president, but drops for some high-profile Big Tech stocks kept indexes in check.
The S&P 500 edged up by 0.1%, coming off its best week of the year following Trump’s victory and a cut to interest rates by the Federal Reserve to bolster the economy. The Dow Jones Industrial Average rose 304 points, or 0.7%, while the Nasdaq composite gained 0.1%.
Tesla was the strongest force pushing upward on the S&P 500 after rising 9.1%. Its leader, Elon Musk, has become a close ally of Trump’s, and its stock jumped nearly 15% the day after the election and has kept rising.
Several pieces of what’s known as the “Trump trade” also helped drive the market, as investors try to identify which companies will be winners under a second Trump term. JPMorgan Chase rose 1%, and financial stocks again helped lead the market on expectations for stronger economic growth, less regulation from Washington and an increase in mergers and acquisitions.
