Dow closes at record high after Trump victory

U.S. stocks ended mixed Thursday, with the Dow Jones Industrial Average refreshing its intraday and closing records, as Wall Street continued to digest Tuesday's presidential election.

The Dow Jones Industrial Average jumped 218.19 points, or 1.17 percent, to 18,807.88. The S&P 500 rose 4.22 points, or 0.20 percent, to 2,167.48. The Nasdaq Composite Index dipped 42.28 points, or 0.81 percent, to 5,208.80.

Donald Trump defeated his Democratic rival Hillary Clinton in Tuesday's presidential election.

While there is still an edge of uncertainty, Wednesday's markets chose to focus on elements from Trump's acceptance speech, in which he discussed spending on infrastructure projects that could boost growth.

"Wall Street is benefiting from Trump's anti-regulation stance versus Clinton. Clinton had several election measures viewed as adverse to Wall Street such as raising capital gains tax, further regulation and a high frequency trading transaction tax," said Brendan Ahern, chief investment officer of U.S. fund company KraneShares.

The market is expecting adjustments to Dodd Frank, the Volcker Rule and other regulations put in place over the last eight years, he added.

Based on that expectation, the financial sector surged 3.70 percent Thursday as the biggest advancer in the S&P 500's ten sectors.

On the economic front, in the week ending Nov. 5, the advance figure for seasonally adjusted initial claims was 254,000, a decrease of 11,000 from the previous week's unrevised level of 265,000, the U.S. Labor Department reported Thursday.

The 4-week moving average was 259,750, an increase of 1,750 from the previous week's revised average.

In corporate news, shares of Macy's soared 5.60 percent to 40.53 U.S. dollars apiece after the department store chain raised its sales outlook for the year. Enditem