Financials lead Wall Street to record high

E-mini Dow Jones Industrial Average

E-mini Dow Jones Industrial Average

Equities in the U.S. were trading higher on Monday, with the Dow Jones Industrial Average up more than 200 points with widespread gains that hit every sector on the Standard & Poor's 500.

The S&P 500, Dow Jones industrials and Nasdaq Composite clocked record closes, with investors drawn to riskier assets as concerns about United States tensions with North Korea eased and the financial impact from Hurricane Irma appeared less severe than was feared last week. "The longer this period of calm continues, the more relaxed investors will become which will be better for riskier assets, while safe havens will continue to experience unwinding".

While some investors cited worries about whether Apple would face supply shortages, others said traders were just taking profits.

On Tuesday, all three indices closed at record highs as financials gained after Goldman Sachs announced plans to boost revenue, particularly in the fixed income, currencies and commodities division.

The S&P 500 added 1.89 points, or less than 0.1%, to 2,498.37.

Financials rose more than 1 percent, with numerous biggest banks gaining between 1 percent and more than 3 percent.

The Dow is up 2,294.77 points, or 11.6 percent.

The S&P Utilities and Real Estate sectors were the laggards of the day, with 1.8 percent and 1.3 percent declines as investors shied away from interest rate- sensitive stocks. Information technology rose 1.4%, sending the Nasdaq Composite higher for the third time in four days.

The TSX on the Toronto exchange shed 5.65 at 15,149.

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