Dow Ends Day Up 186
Nasdaq hits all-time high
By Newser Editors and Wire Services
Posted Feb 3, 2017 3:07 PM CST
Trader Anthony Riccio, left, works on the floor of the New York Stock Exchange, Wednesday, Feb. 1, 2017.    (AP Photo/Richard Drew)

(Newser) – Banks and other financial companies led a rally on Wall Street after President Trump took steps to scale back financial industry regulations, the AP reports. JPMorgan Chase rose 3.1% Friday. Goldman Sachs jumped 4.6%. Traders were also encouraged by news of a pickup in hiring last month. Small-company stocks, which stand to reap outsized benefits from faster economic growth, also rose sharply. The gains put the Nasdaq composite at another all-time high. The Standard & Poor's 500 index rose 16 points, or 0.7%, to 2,297. The Dow Jones industrial average rose 186 points, or 0.9%, to 20,071. The Nasdaq increased 30 points, or 0.5%, to 5,666.

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