All three major U.S. stock indices set record closing highs on Monday, extending their post-election rally, as energy and other commodity-related shares gain, and Facebook leads a jump in technology. Bobbi Rebell reports.
All three major U.S. indexes hitting closing records on Monday. Gains in energy and other commodity related shares driving stocks higher, with Facebook leading tech stocks higher after announcing a $6 billion share buyback. Sean O'Hara, President of Pacer ETF Distributors SOUNDBITE: SEAN O'HARA, PRESIDENT, PACER ETF DISTRIBUTORS, (ENGLISH) SAYING: "There's huge optimism. I travel and visit with a lot of financial advisors. Everybody has gotten a little pep in their step if you will. I think the expectation is that he is a very pro-business, pro-American, maybe pro-market type President. We'll see if he is able to deliver on the things that, I think, is causing the market to rise right now, which is a reduction in regulation and a easing of taxes. " Deal news also driving stocks. LifeLock surging after Symantec said it would buy the identity theft protection company for $2.3 billion. Applied Micro Circuits jumping after Macom Tech said it would buy its fellow chipmaker for $770 million. Macom stock fell. Tyson Foods shares fell after the meat processor forecast a lower-than-expected 2017 profit and said its CEO would step down. In Europe, the major country indices finished out Monday's session with modest gains helped by cyclical stocks.