Major indexes hit records as post-election rally goes on

All three major U.S. stock indexes set record closing highs on Monday, extending their post-election rally as energy and other commodity-related shares gained and Facebook led a jump in technology. Small caps added to recent gains as well, pushing the Russell 2000 index to a record high close. The session marked the first time all four indexes hit closing records on the same day since Dec. 31, 1999. Stocks have mostly rallied since the Nov. 8 U.S. election, with investors snapping up shares of banks, health care and other companies expected to benefit from President-elect Donald Trump’s policies. “The post-election rally is continuing,” said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama. Optimism that Trump will ease regulations and reduce taxes “keeps pulling money into the market,” he said. “A lot of money came out of bond funds last week into stocks, and I think that can continue given the potential spread between what stocks can do versus bonds.” Data from TrimTabs Investment Research showed investors moved $45.7 billion into U.S.-listed equity exchange-traded funds in the eight trading days ended Thursday, the biggest eight-session inflow on record.