(Reuters) -U.S. stocks rose on Wednesday with the Dow and the S&P 500 notching record highs as investors piled into financial and industrial stocks on bets that a Democratic sweep in Georgia would lead to more fiscal stimulus and infrastructure spending.
REUTERS/Brendan McDermidFinancials hit a 1-year high, while materials, industrial and energy sectors jumped between 2.5% and 3.4%.
The Russell 1000 value index, which is heavily weighted toward cyclical sectors, rose 2.5%, while the growth index, with a large tech company weighting, shed 0.1%.
ET the Dow Jones Industrial Average rose 481.33 points, or 1.59%, to 30,872.93, the S&P 500 gained 41.22 points, or 1.11%, to 3,768.08, and the Nasdaq Composite gained 37.89 points, or 0.29%, to 12,856.85.
The S&P 500 posted 75 new 52-week highs and no new low, while the Nasdaq recorded 370 new highs and 13 new lows.
Brendan McDermid Financials, Joe Biden’s, ”, John Stoltzfus, Russell, decliners
Reuters, Dow, Democratic, U.S, New York Stock Exchange, REUTERS, Treasury, Senate, Republican, Oppenheimer Asset Management, Big Tech, Apple Inc, Microsoft Corp, Amazon.com Inc, Google, Inc, Facebook Inc, Tesla Inc, Dow Jones, Nasdaq, Democrat, AmerisourceBergen Corp, Walgreens, NYSE
Georgia, New York City , New York, U.S, New York, Europe