Wall Street surges to new highs; transports set record

Wall Street Market Update

Wall Street surged on Wednesday, with the Dow industrials and S&P 500 hitting fresh records, as equities continued their march upward after the election of Donald Trump as US president, and a new high for transportation stocks added to the bullish tone.

The Dow Jones industrial average rose 297.84 points, or 1.55 percent, to 19,549.62, the S&P 500 gained 29.12 points, or 1.32 percent, to 2,241.35 and the Nasdaq Composite added 60.76 points, or 1.14 percent, to 5,393.76. 

The S&P 500 set a new closing high for the first time since Nov. 25.

About 8.2 billion shares changed hands in US exchanges, above the 8 billion daily average over the last 20 sessions.

The S&P 500 posted 98 new 52-week highs and seven new lows; the Nasdaq Composite recorded 350 new highs and 32 new lows.

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