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Dow Floats, But S&P 500 and Nasdaq Keep the Party Going

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Dow Floats, But S&P 500 and Nasdaq Keep the Party Going

The stock market’s post-election recovery continued Thursday, but the Dow lagged as some aspects of the Trump trade pulled back.

The S&P 500 gained 0.6% to 5961 and moved within reach of 6000. Nasdaq Composite rose 1.2%. The Dow fell 25 points, or 0.1%. All three recorded record closing highs on Wednesday, so a move higher today would be a new milestone.

At the sector level, yesterday’s biggest gainers pulled back: The S&P 500 financial sector fell 1.1%, while energy fell 0.8% and industrials fell 0.2%. This may reflect some profit taking after all three sectors rose following Donald Trump’s victory over Kamala Harris. Trump’s stances on expanding and rolling back regulations have benefited these industries more than the rest of the market.

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