U.S. Stocks Extend Climb as Dow Sets Record on Bank Stock Rally

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Dow Hovers Near 20,000: How Big a Deal Is It?

U.S. stocks climbed as investors bought financial companies, extending the group’s advance to 22 percent since the presidential election.

The S&P 500 Index added 0.4 percent to 2,270.76 by 4 p.m. in New York. The Dow Jones Industrial Average rose 92 points to 19,974 to a record. The Russell 2000 Index of small-cap shares jumped 0.9 percent.

  • Financial stocks add 1.1%, with Charles Schwab Corp. and Blackrock Inc. adding at least 2.2%; discretionary shares up 0.8% on Carmax Inc., TripAdvisor Inc.
  • Dow gains in Nike Inc. and Goldman Sachs Group of at least 1.6%
  • Industrial, telecom shares up at least 0.5%; consumer staples drop 0.3%
  • The VIX dropped for a fourth session to 11.45, its lowest close since August
  • Strategists on average expect the S&P 500 to end 2017 at 2,356, according to the mean of 15 estimates compiled by Bloomberg; that implies a 4.1% gain from Monday’s close.
  • The gauge has advanced 11% this year, putting it among the top four developed-market benchmarks
  • The Russell 2000 Index of small-cap firms has climbed almost 15% since the day of the U.S. election. All four major benchmarks reached all-time highs after the vote, with financial firms leading gains on bets higher borrowing costs will boost profitability
    • After market Tuesday: Steelcase Inc. (SCS), FedEx Corp. (FDX), NIKE Inc. (NKE)
    • Before market Wednesday: Lindsay Corp (LNN), Accenture PLC (ACN), Winnebago Industries (WGO), Finish Line Inc. (FINL), Actuant Corp. (ATU), Paychex Inc (PAYX), Neogen Corp (NEOG)

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