Dow Jones hits record close on optimism over Trump's future policies

US stock indices extended their gains, on Nov. 25, as bond yields fell, fueled by investor optimism following US President-elect Donald Trump's nomination of Scott Pruitt for the position of Secretary of the Treasury, sparking expectations of pro-market policies.

The Dow Jones Industrial Average advanced 1%, or 440 points, hitting a new record close at 44,736 points.

Likewise, the S&P 500 Index gained nearly 0.3%, or 18 points, to reach 5,987 points, after hitting a new record at 6,020. Nasdaq Composite added 0.25%, or 51 points, ending at 19,054.

As for the European indices, STOXX Europe 600 remained stable at 508.7 points, amid losses in the energy and utilities sectors, while gains were seen in the shares of mining, automotive, and technology companies.

The French CAC 40 remained flat at 7,257 points, while FTSE 100 rose 0.35% to 8,291 points. DAX 40 moved up 0.45%, to 19,405 points.

In Japan, the Nikkei closed 1.30%, up at 38,780 points. The broader TOPIX index finished 0.7% higher at 2,715 points.

In the oil market, Brent crude futures for January 2025 delivery dropped 2.85%, or $2.16, to $73.01 per barrel, following a drop to $72.84.

Meanwhile, US WTI crude futures for January 2025 delivery fell by 3.25%, or $2.3, to $68.94 per barrel.

As for gold, futures prices for December delivery retreated by 3.45%, or $93.7, to $2,618.5 per ounce, breaking a five-session winning streak.