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Major indexes hit records as post-election rally goes on

Monday, November 21, 2016 - 01:21

All three major U.S. stock indices set record closing highs on Monday, extending their post-election rally, as energy and other commodity-related shares gain, and Facebook leads a jump in technology. Bobbi Rebell reports.

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All three major U.S. indexes hitting closing records on Monday. Gains in energy and other commodity related shares driving stocks higher, with Facebook leading tech stocks higher after announcing a $6 billion share buyback. Sean O'Hara, President of Pacer ETF Distributors SOUNDBITE: SEAN O'HARA, PRESIDENT, PACER ETF DISTRIBUTORS, (ENGLISH) SAYING: "There's huge optimism. I travel and visit with a lot of financial advisors. Everybody has gotten a little pep in their step if you will. I think the expectation is that he is a very pro-business, pro-American, maybe pro-market type President. We'll see if he is able to deliver on the things that, I think, is causing the market to rise right now, which is a reduction in regulation and a easing of taxes. " Deal news also driving stocks. LifeLock surging after Symantec said it would buy the identity theft protection company for $2.3 billion. Applied Micro Circuits jumping after Macom Tech said it would buy its fellow chipmaker for $770 million. Macom stock fell. Tyson Foods shares fell after the meat processor forecast a lower-than-expected 2017 profit and said its CEO would step down. In Europe, the major country indices finished out Monday's session with modest gains helped by cyclical stocks.

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Major indexes hit records as post-election rally goes on

Monday, November 21, 2016 - 01:21