Banks and other financial companies led U.S. stocks sharply higher, pushing the Dow Jones industrial average above 21,000 points for the first time.
Wednesday’s gain was the biggest for the blue-chip index so far this year.
Energy companies also rose. Bank of America rose 3.8 percent and ConocoPhillips rose 3.1 percent.
The rally came a day after President Donald Trump reaffirmed plans to cut taxes and push for other business-friendly policies.
Bond prices fell and yields rose after New York Federal Reserve President William Dudley said the case for raising interest rates had gotten stronger.
The Dow jumped 303 points, or 1.5 percent, to 21,115.
The Standard & Poor’s 500 index gained 32 points, or 1.4 percent, to 2,395. The Nasdaq composite increased 78 points, or 1.4 percent, to 5,904.
BEFORE YOU GO…
… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.
If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.Click for more info