Trump rally carries stocks to new records

The WSJ Dollar Index, which measures the US currency against a basket of 16 others, was up 0.1% recently, after a 0.5% decline Monday broke a 10-trading day winning streak.

United States equities moved upwards as the Nasdaq stock exchange hit a fresh all-time record high on intraday trading while the Russell 2000 also broke records on the back of expectations of an oil price rise.

The energy sector rallied 2.4% as U.S. crude oil climbed 3.9% to settle at $47.49/bbl, while OPEC members including Iran, along with non-member Russian Federation, suggested progress toward a deal to limit production; softening in the U.S. Dollar Index also boosted dollar-denominated commodities. The Fed chair, Janet Yellen, said an interest rate hike could be "appropriate relatively soon" on Thursday, citing "excessive risk-taking" as a danger were rates to remain low. "But I think there is also a bit of an upbeat mood about the [Donald] Trump election", he added. The data will not inhibit the Federal Reserve from likely raising rates next month.

"Monetary policy should avoid deliberately stoking the risks that come with overheating the United States economy", George said. Benchmark United States crude was up $1.65, to $47.34 a barrel, while Brent crude, the worldwide standard, rose $1.73, to $48.59.

On Tuesday, the Dow gained 44 points or 0.25% to 19003, while the S&P rose 4 points, or 0.23% to 2203, and the Nasdaq ticked up 20 points, or 0.37% to 5388.

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While the Dow fell back some, Wall Street is looking for another large advance as the trading day wears on. "There is an optimism in the market that hadn't existed".

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move.

Chesapeake Energy and Murphy Oil paced gains in energy shares. The company also said CEO Donnie Smith will step down at the end of this year, and company president Tom Hayes will replace him. Australia's S&P ASX/200 added 1.2 percent to 5,413.30 and the Shanghai Composite Index climbed 0.9 percent to 3,248.35. It gained $1.80, or 3.9 percent, to $47.49 a barrel. The dollar halted its longest winning streak versus the euro. The technology index, which had dropped 0.4 percent since the election, was up 0.44 percent. Iraq will offer plans to help reach an accord, Oil Minister Jabbar Al-Luaibi said.

OPEC representatives will meet in Vienna on November 30.

"There's nothing to suggest the agreement's going to hold", she said.

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LONDON: European shares rose, helped by a rise in commodity prices as investors continued to buy cyclical stocks and sell defensives on bets that the U.S. presidential election result might revive inflation globally.

West Texas Intermediate crude oil for January delivery was trading at $48.02 a barrel on Tuesday, down 0.5%. Symantec rose 4.7 percent. Silver slipped, drawing closer to a bear market.

The S&P 500 had last set a closing record on August 15.

The technology index rose 0.58 per cent, boosted by, Facebook and Microsoft. The dollar rose to 111.07 yen from 110.63 yen. That led to gains for energy companies. The bid-to-cover ratio, a gauge of demand, was 2.73, in line with the average at the last 10 sales. The report is due at 10:00 a.m. ET.

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