Wall Street's three main indexes hit records again on Tuesday, with the Dow topping 19,000 points for the first time ever. Rough Cut (no reporter narration).
ROUGH CUT (NO REPORTER NARRATION)
Wall Street's three main indexes hit records again on Tuesday, with the Dow topping 19,000 points for the first time ever, as the Donald Trump-fueled rally continued, with investors buying into a market primed to benefit from his pro-growth policies.
The Dow, S&P 500, Nasdaq and small cap Russell 2000 <.RUT> indexes all closed at record highs on Monday, the first such instance since December 1999.
Trump's promises of tax cuts, higher spending on infrastructure and simpler regulations in the banking and healthcare industries have led a rally, especially in those sectors, since the election on Nov. 8.
"Optimism is returning because of the potential that exists in the form of fiscal stimulus, infrastructure spending and tax cuts and is renewing confidence on the part of investors and consumers," said Robert Pavlik, chief market strategist at Boston Private Wealth in New York.
The consumer discretionary sector <.SPLRCD> was up 0.66 percent, leading the gainers among the 11 major S&P sectors, boosted by strong reports from Dollar Tree and Signet Jewelers.
The healthcare sector <.SPXHC> was the only laggard, dropping 0.74 percent, weighed down by Medtronic.
At 9:32 a.m. ET the Dow Jones Industrial Average <.DJI> was up 37.39 points, or 0.2 percent, at 18,994.08, easing after hitting an all-time high of 19,013.12.
The S&P 500 <.SPX> was up 4.46 points, or 0.2 percent, at 2,202.64. It hit a record level of 2,203.53.
The Nasdaq Composite <.IXIC> was up 16.93 points, or 0.32 percent, at 5,385.79, after touching a high of 5,390.23.
"The rally has been broad based with not any one sector being left behind and that's a very positive sign for the markets," Pavlik said.
The S&P 500 financial sector <.SPSY> has risen more than 11 percent since the election, leading the gainers among the 11 major sectors. Industrials <.SPLRCI> have increased 5.6 percent.