Stocks leap as investors process Trump win; Dow climbs 257

Before the bell, Maria Bartiromo said she'd be buying with both hands. Smart call.

Investors embraced the election of Donald Trump as president, snapping up stocks and selling bonds in a bet that the Republican’s plans for fiscal stimulus will succeed in breaking the U.S. out of a postcrisis economic funk.

The Dow Jones Industrial Average posted its second large gain this week, rising 256.95 points to 18589.69, led by a rally in financial, pharmaceutical and engineering firms. Meanwhile, the yield on the 10-year U.S. Treasury note surged to 2.07%, its highest level since January. Yields rise when prices fall.

The action shows that after months of either playing down the likelihood of a Trump presidency or selling shares in a defensive reflex when Mr. Trump rose in pre-election polls, investors are welcoming the prospect that expansive fiscal spending under the Trump administration could bolster economic activity, push up inflation and support higher bond yields in coming years.

http://www.wsj.com/articles/european-stock...