Macy's (M) Tops Q3 EPS by 5c; Comps Outpace; Forms Alliance with Brookfield Asset Management

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Go back to Macy's (M) Tops Q3 EPS by 5c; Comps Outpace; Forms Alliance with Brookfield Asset Management

Trump bets blast Dow to new high, bank sector hits 2008 levels

November 10, 2016 7:40 AM EST

By Noel Randewich

(Reuters) - U.S. banking sector shares on Thursday surged to levels not seen since the midst of the 2008 financial crisis, pushing the Dow to an all-time high, while technology shares sank as Wall Street rearranged its bets to benefit from Donald Trump's presidency.

The S&P 500 financial sector surged 3.70 percent to its highest since the 2008 financial crisis, bringing its gain since Trump's surprise victory in Tuesday's election to 7.9 percent, its biggest two-day gain since 2011.

Shares of Wells Fargo & Co (NYSE: WFC) jumped 7.58 percent... More