Investing.com - Financial company stock gains drove the markets up in the U.S. on Monday. The DJIA closed at 19216.24, up 0.24%. The S&P 500 closed up by 1%, its best trading day in half a month. NASDAQ stocks increased by 1%.
The rally in U.S. markets, since the election of Donald Trump as the next American President, continued. Stocks of banks and other financial financial firms in the S&P 500 increased 1.1%. The financial industry's equities have surged more than 14% since the election, as investors bet that a Republican-led government would likely enact policies that would help banks’ profits, such as tax cuts and regulatory recisions.
The Dow Jones Industrial Average gained 96 points, as Goldman Sachs (NYSE:GS) and J.P. Morgan showed significant gains in their shares.
The market for the euro also recovered during the morning on Monday as investors factored in the results of the Italian constitutional referendum. The measure failed to pass and the Italian prime minister resigned as a result.