The Dow Jones Industrial Average on Thursday rallied 218 points to close at an all-time high, surpassing previous record close on Aug 15. Stocks mostly rose, as expectations for reflationary polices under president-elect Donald Trump pushed prices of industrials, financials and health-care stocks sharply higher. The gains on Wall Street were not broad-based, however. Technology and defensive stocks such as utilities and consumer staples sold off for a second straight session. The S&P 500 closed 4.22 points, or 0.2%, higher at 2,167.48. The Dow Jones Industrial Average gained 218.25 points, or 1.2%, to 18,807.94. The Nasdaq Composite ended the session down 42.28 points, or 0.8%, at 5,208.80.
Copyright © 2016 MarketWatch, Inc.
Continue Reading Below