Some stocks, such as the Dow are soaring while others, such as the S&P are pulling back, according to an article by Joe McDonald for USA Today.
The increase began after President-elect Donald Trump’s full day after the election. On Nov. 9, stocks shot up after the deep overnight losses.
Now, while the Dow Jones industrial average increased 0.2% to a new record of 19,062.93, the standard & Poor’s 500 and the Nasdaq composite index did not fare as well with decreases of 0.2% and 0.5% respectively.
This is a change from Tuesday, when all three indexes closed at record highs, according to the article.
From the article:
The primary market focus has been on the election of Donald Trump as U.S. president, which many investors bet will be positive for companies. They expect less regulation of financial services and possibly tax cuts as well as spending on infrastructure. He has affirmed plans to withdraw from the Trans-Pacific Partnership but avoided mentioning his campaign pledge to build a wall along the Mexican border.
“As Trump has rowed back and not mentioned some of his more extreme policy sound bites, some worries about the nature of his presidency may have begun to abate,” Alex Furber of CMC Markets said in a report. That has helped U.S. indexes hit record highs, with the Dow surpassing 19,000 for the first time and closing at a record high six times in the two weeks.