Dow climbs to new record Monday; S&P reaches $20T

Traders work on the floor of the NYSE

Traders work on the floor of the New York Stock Exchange in New York U.S

All three of the USA market's leading indexes reached new highs on Monday. Technology was also higher with the Standard & Poor's 500 technology sector gaining 0.45%.

S&P 500 futures rose 3.8 points, or 0.2%, to 2,316.5, while Dow Jones Industrial Average futures gained 43 points, or 0.2%, to 20,266. Goldman Sachs, which advanced 1.46%, contributed the most gains to the blue-chips gauge. Shares of JPMorgan Chase and Caterpillar were the Dow's biggest movers Monday. According to CNBC, the Dow posted its 22nd record close since the USA presidential election on 8 November. Trump's tax plan may not be quite so "phenomenal" for the S&P 500 as people think CNBC (@CNBC) February 13, 2017 The stock market rally that followed his election had previously stalled due to concerns that he would move to protect U.S. companies with import tariffs and a lack of clarity on policy reforms.

The Nasdaq is up 380.84 points, or 7.1 percent. CNBC reported that the S&P also reached $20 trillion in market cap for the first time.

The S&P 500 financials index jumped 1.1%t, with Citigroup (NYSE:C) up 2.3%.

Apple was the top stock on the S&P and the Nasdaq, rising 1.2 percent and closing on its record high.

"Even though we have social unrest and building geopolitical tensions, the market refuses to fall in any meaningful fashion, which means there remains a very strong underlying bid in the market", Adam Sarhan, chief executive officer of 50 Park Investments, told MarketWatch.

USA markets have jumped since the presidential elections but stalled in the new year as investors waited on further clarity from the Trump administration. Stocks continued to gain from optimism over President Donald Trump's new individual and corporate tax policies.

All major United States stock indices closed at record highs for a third consecutive session on Monday.

US Treasurys traded lower, with the benchmark 10-year yield around 2.431% and the short-term two-year yield by 1.19%. The S&P 500 banks index leaped 1.5 percent.

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