How the Dow Jones industrial average finished Wednesday

The Dow Jones mechanical normal rose 45.82 focuses, or 0.2%, to 19,216.24. Pioneer Natural Resources fell 1.9 percent.

The Dow Jones industrial average added 23 points, or 0.12%, to 19,239, the S&P 500 rose six points, or 0.27%, to 2,211 and the Nasdaq Composite added 21 points, or 0.4%, to 5,330.

The tech-heavy Nasdaq composite index rose 1.1% to 5393.76, about 5 points shy of its record close. The Russell 2000 climbed 15 points, or 1.2 percent, to 1,349, putting that index on track for another record high close. Oil prices had risen more than 18 percent since last Wednesday when the producers reached an agreement to limit output.

Trump, in an interview with the Time magazine, said he would bring down drug prices.

Democratic nominee Hillary Clinton campaigned on reducing drug prices, and drug company stocks had rallied since the election as investors felt that was less likely to happen under Trump. (Nasdaq: EQIX) for $3.6 billion. The economy is expected to get a boost from his proposed tax cuts and infrastructure spending.

Overall, the stock market rally looks good, for now.

“I think it’s continuation of the view that the new administration will be pro-business”, said Ernie Cecilia, chief investment officer of Bryn Mawr Trust in Bryn Mawr, Pennsylvania.

Azzarello of JPMorgan said that’s because investors are getting used to political surprises. The index traded within a narrow range after opening slightly higher.

Trump is acting like a steroid for some United States stocks.

All of Wall Street’s major averages clocked in higher on Tuesday.

Indeed, the CBOE Volatility Index is trading at just under 12, which implies that investors may be getting complacent.

Telecommunications stocks were among the biggest gainers, helped by a myriad of company-specific news.

Shortly after 1:20 p.m.in NY, about 53,000 S&P 500 e-mini futures that expire in December traded within one minute, according to Thomson Reuters data. Also, 2017 marks the first year of this market cycle for which we have not raised the index price/earnings (P/E) valuation. Shares closed down 0.9%. Shares of Cisco Systems Inc.

Asian stocks rose Tuesday following another record day on Wall Street as investor optimism bounced back quickly after the Italian referendum.

Other telecom stocks also rose.

US stocks were little changed on Tuesday, as gains in telecom services were offset by losses in energy stocks following a drop in oil prices.

Data this morning might stem the gains on Wall Street after the United States trade deficit swelled in October, reversing some of the narrowing that boosted American economic output during the third quarter.

European stock indexes jumped as investors anticipated that the European Central Bank will extend its bond-buying stimulus program Thursday. The Federal Reserve entered the so-called blackout period Tuesday ahead of its meeting December 13-14, so there are no Fed speakers on the docket.