>> Stocks on Wall Street surging Wednesday, pushing the S&P 500 and Dow to fresh record highs. Somebody really wanted to get into the market, placing a huge buy order across many sectors. Investors continuing to bet that President-Elect Donald Trump is good for business, despite his tough talk on trade, on companies that move operations overseas, or his pointed threats this week to rip up a contract with Boeing.
Investors encouraged by Trump's plans for an economic stimulus package, along with cutting corporate taxes and regulations. But not all boats were rising. Biotech and drug stocks tumbled after Trump promised in a Time Magazine article that he's, quote, going to bring down drug prices. One Wall Street investor telling Reuters, quote, I think it is a new fact of life that fundamentals can be swept aside any day by comments from Trump.
Since Trump's surprise win, stocks have surged five percent.