US stocks give 'collective shrug' to hit new record after Washington violence

'You’re seeing a reflation trade on the assumption that a more progressive, and aggressive, fiscal stimulus packages could be in the offing'

Economy-linked financials jumped, while industrial and materials sectors hovered near record highs

Wall Street hit record levels today as market participants bet on more coronavirus relief aid under a Democrat-controlled US Congress to help the economy ride out a steep pandemic-led downturn.

Economy-linked financials jumped, while industrial and materials sectors hovered near record highs on expectations that president-elect Joe Biden would line up a bigger fiscal package and boost infrastructure spending.