e Dow Jones Industrials average closed at a record today, but it wasn't all good news for stocks. I'm Lewis Krauskopf, stock markets correspondent with Reuters. The Dow Jones Industrial average rose nearly 1.2%. In the second day of trading after Donald Trump's election. Industrials and financials help lead the way again on Thursday.
You had stocks like Caterpillar rising, stocks like Goldman Sachs and JP Morgan helping lift the Dow. Financials have been doing well since Trump's election based on the prospect of low regulations, as well as spending leading to an inflationary environment and higher rates. Industrials, too, have been benefiting from the prospect of higher spending.
For programs like, potentially a new infrastructure program that Trump could put forth. But it wasn't all good news for stocks today. The NASDAQ finished in the red. Big tech names, like Apple, Microsoft, and Amazon finished lower. Why? Well, one reason people are citing, is perhaps people are rotating into names that may benefit under a Trump administration, like infrastructure, and they're rotating out of tech names.
Tech has have a pretty solid performance here to date before the election. So maybe people are taking profits there and rearranging their bets. It's also hard to ignore the fact that Trump did had some tensions during the campaign with some of the tech companies, like Amazon. And perhaps that's playing a role.