US stocks near record highs as election results boost investor optimism
U.S. stocks closed near record highs following the recent election results. Investor optimism about potential tax cuts from President-elect Donald Trump drove the market, with the Dow and S&P 500 also gaining. Tesla shares surged 7.4%, contributing to a rise in consumer discretionary stocks. The electric vehicle maker reached a market value of $1 trillion, boosting the sector to a record high. The small-cap Russell 2000 index increased by 1.6%, reaching its highest level since November 2021. Investors anticipate that smaller companies will benefit from Trump's proposed tax cuts and a more favorable regulatory environment.