After choppy trading late in the session, the Dow ended at a record high while the S&P 500 and the Nasdaq Composite dipped. Bobbi Rebell reports.
U.S. stocks closed mostly higher on Monday with the Dow hitting a new record. A sharp decline in the technology sector offset a steep rise in financial stocks as investors bet on higher interest rates. Eric Wiegand of U.S. Bank: SOUNDBITE: ERIC WIEGAND, SENIOR PORTFOLIO MANAGER, U.S. BANK (ENGLISH) SAYING: "Expectations are growing that we are going to see less gridlock in Washington. That a number of the policies that candidate Trump had mentioned will lead to pro-growth policies. There is still a lot of uncertainty as far as you know how he builds out his cabinet. What the agenda will be for the new administration particularly early on but hope that it will be a less regulatory environment. A little bit more inflationary from a pro-growth and increased spendign particularly fiscal spending will actually substantiate the move that we have seen in equities so far. " Harman International rose after Samsung Electronics announced an $8 billion deal to buy the company. Mentor Graphics surged to a record high after Siemens agreed to buy the company in a $4.5 billion deal. In Europe, stocks finished the first trading session of the week with gains though closing off their highs.