S&P 500, Dow and Nasdaq reach records

FILE - In this Tuesday, Sept. 8, 2015, file photo, a Wall Street street sign is framed by a giant American flag hanging on the facade of the New York Stock Exchange. Global shares were mixed in trading, Wednesday, Dec. 30, 2015, with only some markets cheered by an overnight rally as investor sentiment grew cautious on lower oil prices. (AP Photo/Mary Altaffer, File)
FILE - In this Tuesday, Sept. 8, 2015, file photo, a Wall Street street sign is framed by a giant American flag hanging on the facade of the New York Stock Exchange. Global shares were mixed in trading, Wednesday, Dec. 30, 2015, with only some markets cheered by an overnight rally as investor sentiment grew cautious on lower oil prices. (AP Photo/Mary Altaffer, File)

NEW YORK, (AP) – The Standard & Poor’s 500 index is closing at a record high, beating the mark it set in August.

Other indexes also set records Monday.

The Dow Jones industrial average surpassed the record close it set last week and the Nasdaq composite beat its all-time high from September.

An index of small-company stocks, which have outpaced the market this month, is also at a record high. The Russell 2000 has climbed for 12 straight trading days.

Investors are betting that smaller companies will benefit from President-elect Donald Trump’s plans to lower corporate taxes and loosen regulations.

The Dow rose 88 points, or 0.5 percent, to 18,956. The S&P 500 gained 16 points, or 0.7 percent, to 2,198. The Nasdaq added 47 points, or 0.9 percent, to 5,368.

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