Dow hits new record as Wall Street cheers Trump

Ringing the NYSE's opening bell at 9:30am Thursday.
Ringing the NYSE's opening bell at 9:30am Thursday.

- A day after voters chose to send Donald Trump to the White House, the expectation of less austerity and more pro-business policies propelled the Dow Jones Industrial Average to a new high at the opening bell.

The Dow easily sailed above its previous intraday record high of 18668 points, as it rose 162 points, or 0.91 percent to 18759. In order to close at a fresh high, the index needs to finish above its previous record close of 18636.05, which it set back in August. 

The broader S&P 500 gained 17 points, or 0.8 percent, to 2180, while the tech-heavy Nasdaq Composite rose 49 points, or 0.92 percent, to 5299.

The three major averages roared back to life during the prior session, as the Dow made up for steep pre-market losses of 867 points during heightened uncertainty about the outcome of the presidential election, to finish the trading session up 256 points, or 1.4 percent. The S&P 500 and Nasdaq Composite indexes also ended solidly in the green after notching losses of 5 percent during the overnight hours.

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